EOS/USD / XRP/USD – Coin Calls
EOS/USD Coin Call Short
Following the current market uncertain in Bitcoin and Ethereum that currently make up 75% of the overall Market. EOS, another of the Market leaders is currently looking uncertain. Nouvive prefers to take a Macro Level view, in order to make stated Coin Calls.
As a result, it has come to Nouvive attention that EOS is currently facing an uncertainty, especially as it is currently toying around with Support Level 1. For the past 24 hours, EOS has been trading underneath the S1. Moreover, the current volume, far above the 90D Moving Average is appearing that the Bears are winning.
Both Market sentiment on EOS and RSI Stochastic on all time frames are showing poor signs. Therefore, Nouvive is calling for a short from the prescribed levels to Support 2. The last time, this support was seen in the middle of March when Bitcoin was at $6,100.
One of the only reasons EOS shot far above that line was owed to its upcoming Mainnet release as well as continued marketing on behalf of their supporter – Block.One.
Enter Short 50%: $5.585
Enter Short 50%: $5.556
Take Profit 100%: $4.8360
Profit: 11.5% – Move Stop Losses up whenever in profit
Stop Loss: $5.70
Time Line: 3.5 Weeks
Following the breakdown of the $0.4242, we saw $0.32862. Following this, Ripple has recently on the 6H constantly been rejected by the 0.35 Line.
Currently, trading in the region of $0.3448, it is in Nouvive’s opinion we will see a retest of the lower 0.330 line as a result of a lack of volume to carry Ripple past the 0.35 Mark as well as the overall indication of the Crypto Market as a whole behaving in a bearish Manner.
Below $0.32, the next major support way below at $0.24001, a level last seen on December 12, 2017. A fall to this level will complete a 100 percent retracement of the entire bull market that started in mid-December of 2017.
The last time we saw XRP at these levels was in June 2017.
The market is calling for a Ripple at $0.326.
Nouvive is therefore recommending a short to those levels.
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