Since its previous all time high, EOS has formed an ascending channel with an inner ABCDE-pattern. Since Bitcoin is in a somewhat bullish mood which causes people to turn into Bitcoin instead of alts, we may see a follow up from alts when Bitcoin cools down a bit.
You can use the Fibonacci levels as possible resistance and support levels, besides general trend line support/resistance. Let's see which side of this channel EOS eventually breaks (long term).
You can use the Fibonacci levels as possible resistance and support levels, besides general trend line support/resistance. Let's see which side of this channel EOS eventually breaks (long term).
Commentaire:
Totally forgot to include the weekly stochastic RSI. As you can see, we had a bullish crossover which could initiate EOS' move to point D in the chart above.