Since its previous all time high, EOS has formed an ascending channel with an inner ABCDE-pattern. Since Bitcoin is in a somewhat bullish mood which causes people to turn into Bitcoin instead of alts, we may see a follow up from alts when Bitcoin cools down a bit.
You can use the Fibonacci levels as possible resistance and support levels, besides general trend line support/resistance. Let's see which side of this channel EOS eventually breaks (long term).
You can use the Fibonacci levels as possible resistance and support levels, besides general trend line support/resistance. Let's see which side of this channel EOS eventually breaks (long term).
Note
Totally forgot to include the weekly stochastic RSI. As you can see, we had a bullish crossover which could initiate EOS' move to point D in the chart above.
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.
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.