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Thread: EOS/USD Analysis

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    Default EOS/USD Analysis

    EOS/USD


    From last Monday the price of EOS has increased by 4.84% coming from $5.18 to the current levels of $5.43.





    Looking at the hourly chart you can see that the price action has formed a descending channel after the spike up to $6.1. Currently the price action is below the MA (200, open) but is now in an upward trajectory once again heading towards it and judging by the wick from the downside the buyers are present. We might see the price go beyond it if the momentum is kept up.

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    Default

    I think EOS will not enough strong time congestion in prices

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    Default

    EOS/USD

    Since last Monday, the price of EOS went from its high at $5.5 to $5.39 steadily but has dropped from there steeply and quickly to $5.05 and found support on the horizontal level at $5.133. It is now above it, trading at $5.247, which is an overall decrease of 4.6%.



    Looking at the 4-hour chart you can see the mentioned significant horizontal level from which the price bounced off and recovered slightly reaching $5.3 level. It pulled back to the minor support level where it is retesting the support. If the price does find the support we would be expecting another move to the upside potentially reaching the level from which the price fell steeply around $5.4. Now we can expect more downside below the mentioned horizontal support level market with a blue bold dashed line.

    Read more on FXOpen blog.

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    Default

    EOS/USD

    Since last Thursday when the price of EOS was at around $5.22 the cryptocurrency has experienced an increase of 6.73% measured to the current level of $5.579.



    Looking at the hourly chart above you can see a similar chart pattern like in the case of LTC as the market is strongly correlated. According to my wave count, like in the case of LTC, the 12345 impulse wave has ended as we are currently seeing a correction playing out. The first part of the correction has also ended on the minute WXYXZ, which I believed would be the W wave from a minor three wave WXY correction.

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    Default

    EOS/USD

    The price of EOS has fallen by 14.89% from yesterday’s high at $5.348 and is currently being traded at $4.5412.



    Looking at the hourly chart, we can see that the price has fallen as the minor WXYXZ ended on the significant horizontal level at $5.84, which served as resistance to the next horizontal level, which serves as support at $4.589. Now, when the price has fallen steeply and aggressively we are likely going to see some consolidation around the support level as the price has already fallen below. It was previously forming a cluster putting pressure on the level.

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    EOS/USD

    From last week’s analysis on Thursday, November 22th when the price of EOS was at $3.9 the cryptocurrency has decreased by 19.59% measured to the current levels of $3.16. The price did go down further to $2.9365 but has found support there.



    Looking at the hourly chart, you can see that the downtrend resistance line has been broken as the result of the current up move in which the price increased by 14% at first measured to the last high levels at $3.3581 slightly above the horizontal significant level. The horizontal level served as the resistance for now pushing the price quickly below it again.

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    EOS/USD

    Since last Thursday when the price of EOS was at $3.3 at the opening measured to the current levels on which the cryptocurrency is being traded at $2.175, we have seen a 34.21% drop in price over the course of the last seven days.



    Looking at the hourly chart, you can see that the price action is in a very clear downtrend dating from 7th of November. The current minor down move started after the price broke out the purple line, which was the prior minor downtrend resistance. However it failed to break the resistance at the $3.278 horizontal level where it got rejected and selling continued.

    Today the price reached $2.115, which is the lowest price since the start of the year. The level is semi significant, and that is why considering the momentum behind the sell-off it wouldn’t surprise me if it breaks on the next interaction. But I don’t believe that it will. As you can see the price only quickly interacted with the level, which would be seen as a wick on a higher time frame so the price is looking like its holding there around the current levels.

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