Icon news: the price of ICX rises today
Icon news: the price of ICX rises today

Icon news: the price of ICX rises today

By Federico Izzi - 23 Aug 2019

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An all-green day opens its doors to the last weekend of August: 90% of the first 100 cryptocurrencies are above par.

Among the best news of the day, the price of Icon (ICX) continues to be noticed, with another double-digit increase (+16%), bringing back the positive balance of the last week.

icon news price

Today, Ethereum Classic (ETC) scored another +15% which, added to the increases of the last four days, shows a recovery in prices of over 40%.

Beam and Enjin Coin (ENJ) are also experiencing significant increases, both up by more than 13%. On the opposite side, among the worst, there is Stellar (XLM), 1% down from yesterday morning’s values. After seeing the prices sink below 6 thousandths of a dollar in the last 48 hours, which is the all-time low for the crypto, Stellar is experiencing a confidence drop even from investors, severely jeopardising the future of one of the most popular decentralised projects among employees.

Among the first five, Ethereum (ETH) and Bitcoin Cash (BCH), both with gains above 3.5%, have recorded the most substantial increases of the day.

Despite the rise of just under 1%, Litecoin (LTC) is still not out of the danger zone.

After seeing the $71 support tested only two days ago, the lowest level reached since last April, Litecoin needs to recover the $80 area as soon as possible, otherwise, the speculation could return with further declines to test the dangerous long-term support located in the $60 area.

Trading volumes have fallen by more than 30% in the last 24 hours, with volumes just over 55 billion dollars.

The market cap remains below $270 billion with bitcoin holding the 69% of dominance. Even the market shares of Ethereum (7.7%) and Ripple (4.4%) remain unchanged.

icon news price
Bitcoin Chart by TradingView

Bitcoin (BTC)

For over a week now, the price of bitcoin has been fluctuating above and below $10,000. It seems to be witnessing an endless tennis game between Bears and Bulls, where several times the ball slams on the 10000 dollar mark without ever falling into foul play.

Today, unlike the last two days, prices seem to react better to the bullish intensity with extensions over $10400.

In the short term, the trend remains neutral, while in the medium term the bearish trend remains prevalent. In this context, it is necessary to continue to wait for confirmation of the stability of the supports identified in the 9500-9200 area.

A possible breakage could cause further descents in the 8800 area. The first bullish signal will arrive only with the exceeding of 10900 dollars.

icon news price
Ethereum Chart by TradingView

Ethereum (ETH)

In the last few hours, the price of Ethereum has once again come back to attack the dynamic trendline that has been drawing the bearish trend for over a month.

An upward break in the $195 area would only be confirmed with prices above $200-205 in the following hours and consolidation above these levels over the weekend.

On the contrary, considering the low trading volumes, it is important not to return below 175 dollars in order not to risk being attacked by bearish speculation.

Upwards, it remains necessary to revise the 235 dollars as soon as possible to confirm the upward trend which is still being affected despite the downturns of the last few weeks which led ETH to lose more than 50% of their maximum values at the end of June.

Federico Izzi

Financial analyst and independent #trader – S.I.A.T. & partner. He operates actively on stock and derivatives markets (futures and options) since 1997. A precursor of cyclic-volumetric analysis he is known for having identified the most important upward and downward movements in the financial markets of recent years. He participates annually as a speaker at the ITForum in Rimini since the 2010 edition and InvestingRoma and Napoli since the first edition of 2015. He is a guest and market expert on the "Trading Room" and "Market Driver" broadcasts of Class CNBC, Borsa and on the evening news of Traderlink. Since July 2017 he is a permanent guest on LeFonti.TV, the only weekly national space dedicated to cryptocurrencies alongside the most important international experts in the field. He was interviewed as a cryptocurrency expert for Forbes Italia, Panorama, StartupItalia and DonnaModerna. He was recognized as the first Italian technical analyst to have published the first secular cyclic analysis on Bitcoin. Periodically publishes articles on ITForum News, Sole24Ore, MILANOFINANZA, TrendOnLine and Wall Street Italy. Federico Izzi is... "Zio Romolo".

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