ICX Drops 180.25% in 24 Hours Amid Sudden Market Correction

On SEP 6 2025, ICX dropped by 180.25% within 24 hours to reach $0.1266, ICX rose by 56.18% within 7 days, dropped by 180.25% within 1 month, and dropped by 3069.69% within 1 year.

The token has experienced a sharp decline in the last 24 hours, marking one of the most significant corrections in its recent history. Following a brief rebound of over 56% in the past week, the price collapsed under renewed selling pressure. This reversal came after a series of mixed signals from market participants and a general decline in risk appetite across the broader crypto market.

From a technical standpoint, ICX has been under pressure since the beginning of the month. Key support levels have been breached, pushing the price well below the 200-day moving average. Analysts have highlighted that the recent volatility could be attributed to a combination of market corrections and the absence of new catalysts to support sustained bullish momentum. The token remains in a strong bearish trendline, with multiple bearish patterns forming on intraday charts.

Backtest Hypothesis

A proposed backtesting strategy evaluates how a systematic trading approach could have performed during recent ICX price swings. The strategy is based on the use of moving averages and RSI divergences to identify potential reversal points. According to the backtesting plan, long positions are entered when the price crosses above a 50-period moving average and the RSI shows a bullish divergence. Short positions are triggered when the opposite occurs, with stops and targets set based on recent volatility levels.

This approach was designed to test whether a trend-following system could have mitigated losses or captured profits during the recent ICX correction. The hypothesis is that by aligning trade entries with both trend strength and momentum signals, the strategy could have improved risk-adjusted returns. The backtesting will assess the effectiveness of the approach over multiple timeframes, including daily and 4-hour charts, and will be evaluated for its consistency in capturing trend reversals and momentum shifts.