EOS/USD Main trend. Channel

Updated

Main trend. logarithmic graph. Time frame 1 month. Channel. Secondary trends in market cycles.
Mirror zone of resistance. Future fractal.

Coinmarketcap: EOS

This time frame is for understanding the direction of the trend and where the area for trading is now. Such a time frame gives an understanding of where the zones are expensive/cheap (accumulation/distribution).

Chart of the Bitfinex exchange (closely related to the coin) with the longest history of trading, it began the first trading of EOS after the ICO in 2017.

The same parameters, but on a line chart.

Note

Secondary trend. Logarithmic graph. Time frame 3 days. Reversal zone.

Mirror resistance zone (former long-term support). There may be a significant rollback from it, or at least a stop and consolidation in this zone, provided that the secondary downtrend (price movement direction) is broken (purple line).

From the highs of this secondary trend, the price fell by exactly -93% to the level of 0.93. An interesting coincidence, isn't it?

Note

Pay attention to this cryptocurrency. Showed local price movements from this zone of the horizontal channel. Remember, any price in the accumulation zone is acceptable. Before a local decline, the purchase seems expensive, but after a while in the distribution zone it seems very successful and cheap.

Note

Local reversal zone.
Important mirror resistance level (former support) marked in yellow color. Percentages from the reversal zone to key local support/resistance levels are shown for clarity and general picture.

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