Icon Market Overview

• ICXUSDT rose 5.6% over 24 hours, forming a bullish flag pattern with resistance near 0.142.
• Strong volume expansion at 0.140–0.1425 suggests accumulation, with RSI signaling healthy momentum.
• Bollinger Bands widened, indicating rising volatility, while MACD confirmed a positive crossover near 0.139.
• Turnover spiked to $1.2M at 0.142, aligning with a 61.8% Fibonacci level, hinting at key resistance.
• A breakdown below 0.1385 could trigger a retest of the 0.135–0.137 consolidation range.

Icon (ICXUSDT) opened at 0.1347 on 2025-08-12 12:00 ET, reaching a high of 0.1425 before closing at 0.142 on 2025-08-13 12:00 ET. Total volume reached ~10.5M ICX, with $1.44M in notional turnover.

Structure & Formations

The 24-hour period formed a bullish flag pattern within the 0.1346–0.1425 range, with a breakout at 0.1404–0.1422. A large bullish engulfing candle at 0.140–0.1425 confirmed the upward shift. Key resistance appears at 0.1425, with support at 0.1385–0.139. A doji at 0.1385–0.1393 signaled indecision and possible pullback.

Moving Averages

On the 15-minute chart, price closed above the 20- and 50-period SMAs, reinforcing bullish momentum. Daily 50/100/200 SMAs are still unconfirmed but show a flattening of the 100/200 lines, indicating early uptrend formation.

MACD & RSI

The MACD crossed above the signal line at 0.139, supporting the bullish bias. RSI climbed to 62 by 0.142, avoiding overbought territory and suggesting the rally remains intact. A pullback to RSI 45–50 could indicate consolidation before a renewed push.

Bollinger Bands

Volatility expanded through the 0.1395–0.1425 band, with the 20-period upper band reaching 0.1428. The current close of 0.142 aligns near the upper Bollinger band, suggesting a possible pause or reversal if volume weakens.

Volume & Turnover

Volume surged at 0.140–0.1425, with a peak at 0.142 (188,745 ICX), supporting the breakout. Turnover confirmed the volume spike, with $1.2M transacted at that level. A divergence between price and volume could signal a short-term reversal if seen in the next 48 hours.

Fibonacci Retracements

The 61.8% retracement level of the 0.1346–0.1425 move aligned with the 0.142 mark, which coincided with the last strong buying cluster. The 38.2% level at 0.1385 has become a pivot point, with a potential retest expected if the price corrects.

Icon appears poised to consolidate around 0.142 in the near term, with strong on-chain signals supporting the breakout. However, traders should remain cautious of a potential pullback into the 0.1385–0.1395 range and watch for volume confirmation on any further rally.