- Icon Project 50% Fibonacci Retracement
level now holding as support. I started noticing that ICX was curling off the 50% Fib level for the past several days and have been adding. At present time we are not only seeing Fib hold as support but a curl to the upside. $0.0004573 is the 50% Fib level so your stop should be placed below that if you decided to go long. I think over the long term there is plenty of upside here but I would like to see some more volume
come in as we are currently trading around average. I also like the RSI
here at 47.3 which is just a ways above oversold.
The closer you can get to $0.0004573 the better but currently this pair looks good for a long attempt.
Target 1: 78.6% Fib = 0.0006874
Target 2: 0.0008596
Target 3: Hold some lotto shares for anything above Target 2 with a stop below Target 2.
Initial Stop: 0.0004480
For the Long position on the chart I use the current price at the time I published of 0.000515 for an entry which gives a Risk/Reward Ratio of 5.08.