Nano (NANO), EOS and ICON (ICX) Price Technical Analysis: The Bulls Give In To Selling Pressure

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Nano price is correcting lower on Monday after trading intraday highs of 0.0127 ETH. The crypto encountered selling pressure at this level which paved the way for downside corrections. NANO/ETH failed to find support at 0.0125ETH as well as 0.0120ETH levels. Attempts to recoil to the upside have been stopped at 0.0125ETH.

The upside momentum was initiated above $0.010 after Nano price broke out of the extended selling pressure that bottomed it over the weekend. The traders’ sentiments towards NANO led to an increased appetite as the price broke above key resistance areas including 0.011ETH and 0.0125ETH respectively. The cryptocurrency market is fairly quiet, although it is also fairly bullish.

There is a bearish momentum forming above the immediate support level at $0.0120. Similarly, the MACD momentum indicator is moving further into the negative territory showing that the sellers have the influence in the market. Consequently, the bearish pressure could lead to lower consolidations in the near-term. However, the 100 SMA will support the price below the immediate support level mentioned above. Besides, the stronger support for NANO/ETH is at $0.0115.

EOS Price Analysis

EOS price recently smashed its all-time high and even explored new highs above $20.00. The price tested $23.00 but failed to break above it, thereby opening the gate for downside corrections. The buyers are intent on making new strides towards $30 even defying the overbought levels. Another recent upside movement saw EOS/USD test the resistance level at $21.5 twice, however, the sellers pushed the price north breaking below some key support areas at $20.00 and $18.00 respectively.

The airdrop craze seems to have settled as the sellers seek equilibrium after the extended bullish momentum in the past two weeks. There is a bearish momentum forming on the 15’ timeframe chart, but a short-term support is highlighted above $18.00 zone. The moving averages are pointing towards higher consolidation while the MACD is slightly pulling into the negative levels to signal that buyers are losing grip.

On the upside, the moving averages will offer resistance as the price recoils towards $20.00. At the moment EOS/USD is trading at $18.5 but the sellers are threatening to break the short-term support at $18.00. Further downside movements will be halted by the next support level at $17.00, but the major support for EOS/USD is at $15.00.

ICON (ICX) Price Analysis

ICON price, on the other hand, is also correcting lower after trading highs of $4.9 but failing to break $5. ICX/USD is down 4.23% in the last 24 hours following increasing selling pressure as the sellers seek equilibrium as well. The price traded in lock-step on Friday last week before embarking on an upside roll over the weekend.

During the declines, the support level at $4.8 could not support the price, but ICX/USD found a support at $4.2. The price bounced but the buyers lacked the momentum to push it above $4.8 which is now a major hurdle towards $5. There is a bullish momentum forming above $4.4 on the 30’ chart, although the moving averages will offer resistance to the upside. ICX/USD short-term support is at $4.2, but a stronger support area is highlighted at $3.8 level.


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