Home Crypto Crypto Market Analysis EOS reached a major target, now what?

EOS reached a major target, now what?

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EOS (EOS)

Market Cap. USD 11.16B

Volume (24h) $3,36B

Circulating Supply: 815.92M EOS

Total Supply: 900.000.000 EOS

Max Supply: 1.000.000.000 EOS

 

EOS Price Analysis:

EOS/USD rallied aggressively in the last days and has managed to reach a major dynamic resistance. Price plunged today and could try to test and retest some support levels before will make the next move.

eos price target - eos price chart

You can see on the daily chart that it has registered an impressive rally in the yesterday’s trading session. EOS increased as much as 16.1460 level failing to approach and reach the 18.6700 historical high.

The perspective remains bullish despite the current drop. This could be only temporary before it tries to reach the historical high and to pass above it.

I’ve said in the last week’s trade setup that the EOS price should increase further after the breakout above the UML of the descending pitchfork. The confirmation has come after the amazing breakout above the sliding parallel line (sl) of the ascending pitchfork.

EOS/USD has found strong resistance at the first warning line (WL1) of the descending pitchfork and now is somehow expected to come to test and retest the upper median line (uml) of the ascending pitchfork.

You should know that only a valid breakout above the WL1 will confirm a further increase. Otherwise, the rate will drop towards the median line (ml) of the ascending pitchfork and towards the 150% Fibonacci line of the descending pitchfork.

© Forex.Academy

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