After steady decline, Iconomi has left its downward channel on the upside. More so RSI managed to curl up just above oversold area. Look for a move towards 0.0065 (horizontal red line) as a first target.
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So far Iconomi has not lived up to its promise ;) I have made a new graph: as we can see the old steep falling resistance has been replaced by a new less steep falling resistance.. worse RSI didn't manage to go up, but is again close to the oversold border! We can see 2 horizontal support lines the first around 0.0003 and the second at 0.00022. My guess is one of these, propbably the first, will stop the current fall after which we will finally make that move towards 0.0065.
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Currently we are @ the abvove mentioned first horizontal support zone.. we want to see a powerfull bounce on the short term, otherwise 0.00022 level is looming
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Ok, so there is that powerfull bounce, as often the problem in the past with Iconomi we also need to see follow through now.. if we fall back all the way to the first horizontal support zone, not sure if it will hold again..
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And there we have our follow through.. starting to look better!