EOS (EOS/USD) Shows Some Strength!
Over the weekend when almost all the ALTS tooked another hit, EOS holds the price very nicely!
It shows that EOS has some potential and the platform is technically a pretty solid.
The weekly candle closes below the round number $5 and below the short-term counter trendline but nothing significant small fall and quickly back around the $5 area.
Currently, we trade again above the round number and on the lower timeframes, we could see that it starts to form a bullish chart pattern called "Inverted Head & Shoulders" which will indicate the further move upwards!
If we want to see bullish move then we have to get a close above the April low and a candle close above the counter trendline! This will guide us to the last down-trendline which starts to work as a resistance if we take down the last down-trendline then almost to the $6.5-$7 we have free "road"!
Bearish move will be almost confirmed when it get a close below the red line and then the price will continue the move down on the down channel! Nearest supports would be the trendline which is pulled from 2018 low point, the August low and the round number $4. This zone is a very strong area and we search further price movement from this price level at $4-$4.2!
Techincally, EOS looks very strong and promising if the market find the way upwards.
Hopefully, those level and this analysis helped You out a little bit to confirm Your own analysis!
Please, don't forget to hit the LIKE button to support us!
It shows that EOS has some potential and the platform is technically a pretty solid.
The weekly candle closes below the round number $5 and below the short-term counter trendline but nothing significant small fall and quickly back around the $5 area.
Currently, we trade again above the round number and on the lower timeframes, we could see that it starts to form a bullish chart pattern called "Inverted Head & Shoulders" which will indicate the further move upwards!
If we want to see bullish move then we have to get a close above the April low and a candle close above the counter trendline! This will guide us to the last down-trendline which starts to work as a resistance if we take down the last down-trendline then almost to the $6.5-$7 we have free "road"!
Bearish move will be almost confirmed when it get a close below the red line and then the price will continue the move down on the down channel! Nearest supports would be the trendline which is pulled from 2018 low point, the August low and the round number $4. This zone is a very strong area and we search further price movement from this price level at $4-$4.2!
Techincally, EOS looks very strong and promising if the market find the way upwards.
Hopefully, those level and this analysis helped You out a little bit to confirm Your own analysis!
Please, don't forget to hit the LIKE button to support us!
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