Long term viewEOS currently finds itself within a bearish pattern in the big red triangle, but there's plenty of positive news surrounding the project. It has to finish its job with this red triangle to move out freely, so breaking the triangle does not necessarily mean it will go to the upside.
It can achieve that by breaking the bottom line. If the price breaches this support level and falls below the red triangle, it could lead to further declines. If that happens, it does not bode well, no matter how good the project is. The founder needs way more marketing than improving the tech.
The regulation news makes alts worst than the bitcoin itself. Bitcoin tests monthly, weekly, and three days EMA. I expect aggressive upward movements on Bitcoin for the summer.
So, if EOS can sustain while Bitcoin does its job, there's no comeback.
