EOS: Rejected Highs
EOS following the Block.One capital raise of $4Bn hit a high of close to $20 before crashing down to $8.
Recently, as initially stated by Nouvive to have following a persistence momentum to have passed 8.333 to hit a high of $9.
Nouvive has spotted a charting pattern known as a double top, this is where the Coin fails to breach the resistance level twice, before crashing down to previous support.
As can be seen on the 1D HTF or Higher Time Frame, Volume has been decreasing and under average with a decrease of buying pressure – illustrating to Nouvive’s Senior Analyst, Adris that this will cause Selling pressure to take over.
A Short at stated levels below will have a 8.90% gain at a risk of 0.67%.
You may use Leverage between 5-10X or an unleveraged position
Enter 50%: 8.816
Enter 50%: 8.842
Take Profit 100%: 8.1
Stop Limit: 8.86
Time: 3 Days
Probability – 74%
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