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EOS Daily Analysis: Breakout or Breakdown

EOS has suffered a tumultuous past. Those reading for the first time will understand that EOS was first outed as a bad coin in November of 2017 before rising to close to $19. Since trading from $8, it has suffered and been called a ‘bad’ coin.

What do the charts show?

Bullish

  • The higher time frames indicators all show on that EOS is gearing up to breakout of its current positioning.
  • This comes as since finding its temporary bottom over the weekend, it has made successive Higher Highs, Higher lows on the 1D Chart.
  • RSI Stochastic on the 1D Chart illustrates that we could go as far as $2.05, following a breakout of the pennant triangle or at the minimum $1.95.
  • MACD and Nouvive’s ViFeed indicator has flashed BUY on the current time frames.
  • Market sentiment and Accumulation has increased by 3% day on day.

Bearish

  • A break of $1.8947 could see a 9% fall over the course of the following days, leading up to the weekend as EOS tries to find a Bottom.
  • The reversal following the finding of a local high or resistance at $2.17 with a negative patterns being illustrated is a cause of concern.

Nouvive Says: EOS will retest $1.89, what happens next is ultimately up to whether the bulls or the bears win the Supply side volume. A break of $1.8947 could be an excellent short or selling entry. A re-test of the bottom at $1.8947 would signal a double bottom with a break of the upper tiers of the bullish triangle could see a 3% close on the day.

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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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