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Thread: EOS/USD Analysis

  1. #76
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    Looking at the hourly chart, you can see that the price broke out from the descending trendline and is interacting with the minor non-labeled horizontal level of the upper range between the 1.272 Fibonacci level. Like in the case of Litecoin we are most likely to see further upside movement after this retracement ends as a bullish momentum was strong enough to break the descending trendline, so the referred retracement may end as a retest of the descending trendline.
    It's always great to see some new graphics of that, and analytics about cryptocurrency movements. Talking about that, and considering about "is Bitcoin a good investment?" - I can recommend this awesome website with a fantastic read where author gave comprehensive analysis about cryptocurrency nowadays and how you should invest your money properly.
    Last edited by victor8NB; 07-14-2020 at 03:27 PM.

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    EOS/USD

    From last Thursday when the price of EOS has been sitting on its highest point at $2.73 we have seen a decrease of 11% measured to its lowest point today made at $2.432. At the moment the price is being traded slightly higher but has made a steep downfall from the yesterdays high and is still in a downward trajectory.



    Looking at the hourly chart, you can see that like in the case of Litecoin we have seen the completion of the five-wave move to the upside followed by the development of the five-wave move to the downside. This indicates that the previous structure with the ascending triangle from the 28th of Jun was another ABC to the upside which is why after it ended another round of impulsive downside movement has been seen.

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    EOS/USD

    The price of EOS has made its significant low on Sunday at around $2.48 level and from there started increasing impulsively to the upside with strong bullish momentum and reached $2.68 at its highest point which was an increase of 8.27%. Looking at the hourly chart below, we can see that the price is currently retesting the 0.786 Fibonacci level as it went slightly below it but is now looking for signs of support.



    Like in the case of Litecoin we have seen the development of the 3rd wave of a lower degree count which is why more upside would be expected from here but the current price action is likely first going to develop the 4th one as we have seen a retracement back below the significant Fib level. If this is true another minor move to the downside would be expected from here which is likely to test the $2.64 horizontal resistance level but after it ends a move to the 1 Fib level is likely to be seen which would bring the price back up to $2.7319

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    EOS/USD

    From last week’s low made on Monday at $2.557, the price of EOS has increased by 23.76% as it came up to $3.1646 at its highest point on yesterday but has since then made a decrease of 6%. At the moment this cryptocurrency is being traded above the $3 mark as a minor recovery is being made but is in a downward trajectory overall.



    Looking at the hourly chart, we can see that from the 16th of July when the first minor move to the upside has been made the price of EOS has been developing a five-wave impulse to the upside and has now developed most likely it’s 3rd one with the price now likely undergoing a more significant corrective stage as the 4th wave should develop. Considering the impulsiveness seen it is unlikely that the price is going to be pushed for much lower than the ending point of the prior lower degree 5th wave which is around $2.9 but in theory, the price could continue moving to the downside to the $2.6 area where the beginning of the territory of the 1st wave is.

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    EOS/USD

    The price of EOS made a decrease of over 13% from Monday’s high at $3.427 as it dipped below $3 but snapped back above it before the 15-min candle closed. Currently, we have seen a recovery taking place but the momentum behind the upward move losing power.



    On the 15-min chart, we can see that similarly like in the case of Litecoin the price of EOS made a sharp decline from Monday and made a local ascending range. This could be the 4th wave out of the ABCDE count or some other corrective move but further downside for another lower low would be expected as well.

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    EOS/USD

    The price of EOS has increased by 2.6% from yesterday’s low at $2.56 measured to its highest point today at $2.627 around which it is currently being traded.



    Looking at the hourly chart, you can see that a breakout was made from the descending triangle that was a dominant structure throughout most of September which could be interpreted as a bullish sign. The price increase from $2.39 on September 23rd to $2.635 level which was an increase of 10.12%. This high area is revisited today and we are yet to see if the price finds resistance there again like on Monday when the interaction with the area caused a minor pullback.

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    EOS/USD

    The price of EOS has been showing choppy price action since last week when it spike to almost $3 on the 6th of October but fell back to the starting point of the increase at around $2.5 on the 8th. Since then another increase was seen to the $2.7 zone but from there a downtrend to $2.59 at its lowest yesterday.



    Currently, the price is being traded around those levels and has started to show early signs for bullishnesss as a minor high low was made today compared to the yesterday’s one. Even though the price came below the horizontal level of the prior high, it found support on a slightly lower one which was the support zones’s lower level.

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    EOS/USD

    The price of EOS has experienced an increase of 7.6% coming from the $2.5 level on Tuesday to $2.7 at its highest point today. The amount of increase isn’t as significant but a breakout that was made on Monday was validated by the interaction with the descending trendline where it found support.



    Now the price is coming to test the ascending level from the beginning of October and is likely to finds resistance there as the level has been highly significant. The wave structure has been showing the completion of the five-wave move so the breakout momentum looks like it coming to an end, and considering the significance behind the ascending trendline, it could be very soon.

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    EOS/USD

    The price of EOS has increased by 5.73% from its yesterday’s low at $2.3 as it came up to $2.427 at its highest point today. Currently, a minor pullback has occurred with the price being traded at $2.378.



    Looking at the hourly chart, you can see that the price broke down below the horizontal support at around $2.43 which was interacted with today from its lower side. This interaction most likely served as a validation of resistance and with a quick spike being made it appears that the resitance is present at those levels. The previous descending move was a five-wave one which could have been the C wave from the higher degree ABC correction of some kind, in which case the rise we have seen from yesterday could be the start of another significant recovery.

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  11. #85
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    EOS/USD

    From the start of January when the price of EOS was sitting at $2.55 we have seen an increase of 35.68% measured to its highest point at $3.4617 made yesterday. Since then the price made a minor pullback to $3.11 but is now back above $3.315 again.



    On the hourly chart, you can see that the price action made a cup and handle formation since the 20th of December and has now made a higher high compared to the one then. We are now seeing the formation of the handle pattern which is set to consolidate the price and establish support before it can move to the upside again.

    From the start of the year, the price has moved parabolically to the upside so its upward trajectory would be expected to continue, but not before it makes a revisiting to the zone below $3.27. It could continue to its more significant horizontal zone at around $2.9 but that doesn’t look as likely considering the bullish momentum seen. More likely we are to see another spike to the downside like we have from yesterday’s high potentially coming to the $3 mark which is both a psychological level and the local horizontal support.

    After this, a further upside would be expected for the price of EOS in the same impulsive manner as it did from the start of the new year. The next significant price point would be at $3.84 where the price made the previous high on November 25th.

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    This topic is being updated for further discussions...

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    EOS/USD
    From its Tuesday’s high at $2.926 the price of EOS has decreased by 12.18% as it came down to $2.579 at its lowest wick today. Now the price is looking like it has stabilized above the $2.62 level and is establishing support.



    On the hourly chart, you can see that the price has made a breakout from the ascending channel like in the case of Litecoin but the pattern isn’t as similar as the price of EOS made a more significant decrease from the 10th of January till the 11th then it has now since Tuesday. We have seen a decrease of over 37% till the 11th of January and if this descending move is the continuation of that move, the price could be expected to go significantly lower. But another round of hard-selling like it occurred then isn’t likely to play out.

    More likely we are going to see a further decrease to some of the horizontal support levels out of which the first one in line would be the 11th January low, but the next one is just below the $2 mark. The price could make another impulsive move to the vicinity of the lower horizontal level, but like in the case of Litecoin that might not come in a straight line.

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    EOS/USD

    From the 25th of March when the price of EOS was being traded at $3.6 we have seen an increase of 42% as it came up to $4.9 at its highest point today. Now it is sitting at $4.78 as it is consolidating after an impulsive rise.



    On the hourly chart, we can see that the price made a five-wave impulse to the upside from the 25th which would be the next wave to the upside after the correction from the 14th of February. The ascending channel which was forming prior could have been the corrective wave with a move to the downside made after a breakout being the end of the corrective move from the higher degree count.

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