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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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