EOS on all of the Higher Time Frames don’t seem to be responding to the Bitcoin and Ethereum dumps as much as the rest of the altcoin market. Usually, when this occurs, thechosen coin will be the coin to lead.
Recent data as a result of the Ledger, Hard wallet has seen 10,000 new people join the EOS Community.
What is the Technical Analysis Stating?
The higher time frames are illustrating that EOS will dip to $4.20/40 as a result of the high buy side support there is in that area.
Nouvive sees this area hitting only if the Bitcoin $6180 breaks down, if it does not break down. EOS can be seen to be in a bullish pattern that will breakout over the next week. This breakout can be seen to be leading to the $5.80 area, last seen towards the end of September and roughly the area of the 0.382 Fibonacci line.
This 0.382 Fibonacci line is a historic area of both resistance and support, therefore affording Nouvive the ability to predict 70% chance this area will stand as our take profit area.
Moreover, a breakout and a close above the 15 MA on the higher time frames, meaning a consecutive close above $4.95/$5 would mean a Positive incline upwards towards our take profit.
Nouvive recommends a staggered short-term buy with 50% of the position at $4.80 and the rest in the $4.20-40 area. Take profit at $5.90.
Nouvive: Home of Crypto Beginners, Traders & Investors. Nouvive provides Cryptocurrency trading news, Analysis and indicators for beginners, traders and investors.
Information on these pages contain speculative statements that involves risks and uncertainties. Crypto-Assets profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell. Nouvive does not in any way guarantee that this information is free from mistakes, errors or material misstatements. It does also not guarantee that this information is of a timely nature. Crypto-Assets involve risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing or trading are your responsibility alone. For more information, please view the Risk Warning Below.