ICON ICX price analysis 17 May 2019; going low before rise

Bitcoin has taken a dip and the market is taking the toll with it, but well, we can’t complain. Similarly, ICON (ICX) has detailed devaluation since past two days bringing prices to buying pressure zone.

The ICX price fell to zero point three four one six dollars ($0.3416), that was an area of support as well as resistance and established buying pressure here.

It has improved to zero point three six dollars ($0.36) but is probable to re-evaluate the zero point three four one six dollars ($0.3416) mark with a current high selling pressure through the crypto market.

ICON ICX price analysis 17 May 2019; going low before rise 2ICON ICX price chart by Trading View

ICON has been heavily devaluing against BTC since last month. But, the price has been performing better this week and has been less affected by the deteriorations for past two days.

Currently, a candle is forming a Dragonfly Doji reproducing the higher level of selling pressure, but the candles have not recorded drops as it did in the case in of ICX.

Though, the drop is probable with the MACD and RSI drop signifying high levels of selling pressure. The previous zone of buyer liquescence has been coming to action as a zone of selling pressure for ICX.

The five hundred and twenty-seven satoshis (527 sats) mark formerly operated as a zone of buying pressure. After the price action of ICON fell under the five hundred and sixty-one satoshis (561 sats) mark in February. The ICON price is presently uniting near the five hundred satoshis (500 sats) mark.

ICON is currently holding a market capitalization of over one hundred and sixty-nine and a half million dollars ($169.874m) and a trading volume of over sixteen and a quarter million dollars ($16.35m) mark.