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.
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