Technical Analysis Of Celsius, Icon And The Graph!

CELSIUS ANALYSIS: JULY, 2021

Technical:

The Celsius token is used on the Celsius platform. The Celsius platform is the only one that provides up to 17% yield on crypto. Here’s the technical analysis of the Celsius token.

Celsius has faced a clear rejection from the supply zone of $6.92 to $7.04 on the 4-hour chart. It has broken multiple supports on the way including the 0.236 Fibonacci level.

Currently, it has taken a minor support at $6.18, which is the 0.382 Fibonacci level. It can either reverse from there and complete its retracement or break this support as well.

It is trading below both 50-day and 200-day exponential moving averages. The 200-day exponential MA acts as an immediate resistance. The coin is likely to stay down until it crosses above the latter.

The volumes had also been bearish for five consecutive candles.

celsius analysis
Source: tradingview

Market Sentiment:

The Relative Strength Index is showing price weakness for the coin as it hovers near the oversold region. Any fall below 30 can trigger further weakness. It currently stands at 32.47.

The MACD is below the signal line, giving a ‘sell’ call to investors.

The technical analysis of celsius hints at further weakness for the coin in the coming weeks.

celsius analysis
Source: tradingview

Conclusion:

The technical analysis of Celsius suggests that on the breakdown of $6.18, $5.90 and $5.64 are targets on the downside. A close below the said level is also important to see any downside.

If the coin successfully reverses from the Fibonacci level, $6.52 and $6.93 are the targets on the upside.

Strong bullish volumes are required in Celcius for the same.

ICON ANALYSIS: JULY, 2021

Technical:

Icon coin was invented in 2017, by a firm based in South Korea. Here’s the price analysis of Icon.

Icon is trading at $0.93, having taken resistance from the upper trendline. It has been forming a symmetrical triangle type formation on the daily time frame. This could either imply an end to the bearish trend or its continuation.

The spike in bullish volumes is suggesting a possible breakout of the resistance.

However, the exponential moving averages are indicating otherwise. The coin is trading below the 50-day and 200-day exponential moving averages. In addition to that, the 50-day MA has given a death cross below the 200-day MA. This is a sign of a major bearish trend.

icon analysis
Source: tradingview

Market Sentiment:

The Relative Strength Index is showing mild price weakness. It has given a slight negative divergence towards the neutral region. Currently, it stands at 51.09 with a potential to go lower.

The MACD, on the other hand, is above the signal line. It is giving a ‘buy’ call to investors.

However, investors must wait for the price to close above the resistance before initiating long positions.

icon analysis
Source: tradingview

Conclusion:

On the breakout and close above $1.04, $1.17 and $1.34 are the targets on the upside. The continuation of the bullish volumes will facilitate the surge in price.

On the breakdown and close below $0.87, $0.76 and $0.63 are the targets on the downside.

As mentioned, a cautious approach is required for Icon until either side breaks.

THE GRAPH ANALYSIS: JULY, 2021

Technical:

The graph is a cryptocurrency which is a decentralized protocol designed to sort other blockchains. Here’s the price analysis of The Graph.

The Graph is trading at $0.67. The coin is right between its resistance and support zone. It has reversed perfectly from its demand zone at $0.62 on the 4-hour time frame. The Graph is clearly in a sideways range until either the supply or demand zone breaks with volumes.

The coin is facing immediate support from its 50-day exponential moving average. On the contrary, the 200-day exponential moving average is acting as an immediate resistance. Both the Mas are keeping the coin in a range bound condition.

The bullish volumes are supporting the reversal. The bullish volumes are higher than average as well as the bearish volumes. The coin is likely to test its resistance zone, considering the inflow of buying volumes.

graph analysis
Source: tradingview

Market Sentiment:

The relative strength index is showing price weakness for the coin. It has faced rejection from neutral region twice. It currently stands at 46.55.

The MACD is below the signal line, giving a ‘sell’ call to investors.

Both indicators hint at a possible breakdown of the support.

graph analysis
Source: tradingview

Conclusion:

On the breakdown and close below the level of $0.61, $0.57 and $0.518 are the targets on the downside.

On the breakout and close above $0.78, $0.84 and $0.96 are the targets on the upside.Investors must wait for either level to break before taking positions in The Graph.