👀Huobi x CoinMarketCal👀A Coin To Keep An Eye On!
The ICON Project aims to build a decentralized network that allows independent blockchains with different governances to transact with one another without intermediaries. Anyone can create a new blockchain project and join the network. A new blockchain project is free to connect with existing projects and create new unique worlds, or blockchain multiverse. ICON itself can be viewed as both a living organism and an ecosystem.
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📅Events:
07/14: Release the update to Pagoda, Yeouido
07/20: Release update to exchanges
07/27: Release update to Mainnet, Yeouido.
Based on community requests, they have worked on several features to enhance the governance experience of the ICON network. Based on this feedback, they will soon add P-Rep private key dualizing, staking, and delegating functions in SCORE, multiple unstaking periods, and a function to increase the number of delegations from 10 to 100.
📈Analysis
ICX has spent most of 2020 range-bound after a 358% pump following New Year’s, but price action suggests that a shift might be incoming.
For most of the year, the price has been spiking up to create lower highs. The end of June brought a bullish move that ran these highs before beginning to consolidate under resistance near the last local high at 0.00004644.
A break of this high and the monthly level at 0.00004670 could send the price back up toward 2020’s high, with the monthly level and short stops at 0.00005699 being a possible target. Bulls could enter on each break of the prior highs.
Bears might see this as a move to load up shorts before pushing the price back down to the lows near the bottom of the range at 0.00003101. If Tuesday’s update causes traders to “sell the news” and markets become more bearish, this could create a scenario where the price completely retraces.
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