EOS(EOS/USD)-Setup
Updated
EOS price surged 20+% and broke significant resistance area against the US Dollar. It seems that buyers/bulls are in control, suggesting more upsides potential.
Bullish Case:
EOS price gained significant buying interest, resulting in upsides of more than 50% from $2.2 price level.It will now act as potental support price level in the coming days/weeks.
After moving upward significantly, a healthy pull back is likely to $3.1-$3.0 price level for the potential resistance turned support flip(S/R).If it holds this level then next level to test will be around $4.1+ level.It would be super bullish if it breaks that level as well.
Also, the pair has surpassed 200H-SMA(Simple Moving Average) and penetrated through ichimoku cloud which might act as preliminary support if any pullbacks occur.
Bearish Case:
Early signs of the bear will be confirmed if the pair doesn't hold the $3.0 price level and breaking the last line of the defence around $2.1-$2.3 price level would be strongly bearish for the pair.
Bullish Case:
EOS price gained significant buying interest, resulting in upsides of more than 50% from $2.2 price level.It will now act as potental support price level in the coming days/weeks.
After moving upward significantly, a healthy pull back is likely to $3.1-$3.0 price level for the potential resistance turned support flip(S/R).If it holds this level then next level to test will be around $4.1+ level.It would be super bullish if it breaks that level as well.
Also, the pair has surpassed 200H-SMA(Simple Moving Average) and penetrated through ichimoku cloud which might act as preliminary support if any pullbacks occur.
Bearish Case:
Early signs of the bear will be confirmed if the pair doesn't hold the $3.0 price level and breaking the last line of the defence around $2.1-$2.3 price level would be strongly bearish for the pair.
Note
Tested the Major Resistance and fall hard.Need to test the potential-S/R , if it doesn't hold then it would be bearish for the asset.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.