Market Cap. $7.301.307.239 USD
Volume (24h) $568.861.000 USD
Circulating Supply: 802.920.263 EOS
Total Supply: 900.000.000 EOS
Max Supply: 1.000.000.000 EOS
EOS/USD is trading in the green and tries to stabilize above a broken dynamic resistance. Technically, it is somehow expected to climb much higher in the upcoming period.
EOS/USD has retested the upper median line (UML) of the former descending pitchfork and now tries to reach new highs. Price climbed above the median line and should approach the 50% Fibonacci level and the sliding line (sl2).
You should know that only a valid breakout above the mentioned resistance levels will confirm a further increase. The false breakdown below the first sliding line (sl1) has signaled that the bulls could take the lead again.
A valid breakout above the sliding line (sl2) and above the 10.0000 psychological could send the rate towards the upper median line (uml) and towards the first warning line (WL1). Resistance can be found at the 150% Fibonacci line as well.
I’ve added an H4 chart to show you what could happen in the upcoming hours. A failure to stabilize above the median line (ml) could signal a minor drop. So, a drop below the sliding line (sl1) followed by a retest will send the rate towards the downside 50% Fibonacci line.
We may have several breakout attempts above the upside sliding line (sl2) and above the 50% Fibonacci level (see the daily chart). The perspective will remain bullish on the daily chart as long as the rate stays somewhere above the UML and within the ascending pitchfork’s body.