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Incent Sell-Off?

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Incent (INCNT)


Market Cap: $14.80M

Circulating Supply: 46.02M INCNT

Max Supply: 0 INCNT

Volume (24h) $46.57K


Technical Analysis


The rate increased today but is seems pressured in the short term. INCNT/USD climbed above the broken dynamic support, but I’m afraid that it will drop further in the short term. We may have a great selling opportunity if the rate will close below the 0.29524790 yesterday’s low and could drop much below the 0.20000000 psychological level.

Price is struggling to stay higher, but I’m afraid that the crypto market could turn to the downside again after the temporary rebound. The major cryptocurrencies have increased a little, but are signalling an exhaustion already, so Incent could drop as well if the other cryptocurrencies will slip lower.


 

You can see on the Daily chart that the price has found a strong resistance at the 0.42260400 level and now has slipped below the lower median line (lml) of the ascending pitchfork. It is pressuring the sliding line (sl) of the ascending pitchfork after the lower median line (lml) retest. A valid breakdown below the sliding line will confirm a drop for the upcoming period.

INCNT/USD could drop even if it will pass above the 150% line as long as it will stabilise below the sliding line (sl).


Conclusion


The price seems that it could drop from here because it has stayed too much on the sliding line (sl). You can sell it from below the 0.29524790 yesterday’s low and you could place the first target at the 0.15696000 level. The Stop Loss should be above the 0.42260400 static resistance.

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