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EOS & Bancor X: EOS to breakout to $6.82

BREAKING. FOR IMMEDIATE RELEASE AND INFORMED DECISIONS. 

What the latest update offers:

Bancor, the “decentralized liquidity network,” which allows users to trade a range of ethereum-based tokens without depositing funds in an exchange or matching trades in an order book, will bring that capability to EOS.

How does this effect EOS? 

  • EOS has not had the same love as the rest of the tokens over the past 2 weeks – especially being called a 3 billion dollar cloud service as opposed to a blockchain system.
  • This will see EOS breakout of its current bullish pennant

What does the Technical Analysis say? 

  • On the higher time frames, EOS appears to be either breaking out of its current price or moving down to $5.06 before breaking out to the $6.82 or $9.47
  • On the higher time frames, it appears MORE THAN LIKELY that EOS will make a downtrend to $5.06 as a result of the RSI Stochastic appearing oversold – recently crossing over.
  • More so – if the 9 ETFs are denied once again today, this could see the rest of the market decrease by on average 20%, leading EOS to go to the $5.06 mark.
  • Volume over the past 10 days have been decreasing day on day, far lower than the 90D Average – illustrating that it is currently being constrained and therefore a large move will be occurring. This gives Nouvive Research a more than likely chance that we will see a bullish breakout – especially as it is in a Bullish triangle.
  • The lower time frames are seeing EOS test the top of the bullish pennant before falling less than 1%, we could see the 15MA cross over with the 90D MA to see it give it enough power to breakout of the triangle.

Nouvive sees a trade for the OVERLY CAUTIOUS from $5.06 with a take profit at $6.82. 

Nouvive sees a trade for the risk-takers from $5.38 with a take profit at $6.82. 

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.

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