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Thread: EOS/USD Analysis

  1. #61
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    EOS/USD

    From yesterday’s low at $2.161 we have seen an increase of 6.82% in the price of EOS as it came up to $2.3 at today’s high. Like in the case of Litecoin it is currently expecting a minor retracement with further short-term downside potential.



    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.

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  2. #62
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    EOS/USD

    The price of EOS has increased by 19.43% coming from it’s open on Monday at $2.344 to $2.8 made on Tuesday. Like in the case of Litecoin the price action started forming an ascending triangle as it’s support level is steeper then it’s resistance one.



    Looking at the hourly chart of EOS you can see that it outlines another possibility which was presented in the case of Litecoin, namely that the 5th wave out of the current impulse wave ended. Instead of the previous descending triangle forming a five-wave correction it made a three-wave one which is why the increase from the 30th of March and it’s first higher low could be the first two waves out of the five-wave impulse.

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  3. #63
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    EOS/USD

    From today’s low at $2.35 the price of EOS has increased by 16.25% coming to $2.732 at it’s highest point. Currently, it is being traded slightly lower at $2.6835 but is still above it’s second prior high unlike in the case of Litecoin.



    On the hourly chart of EOS I have outlined the different possibility and in my mind a more likely one, namely that today’s increase is the C wave rather the first wave from the next starting impulse. As you can see these labels are implying that from the $2.83 high we have seen a five-wave move that formed a descending channel, followed by an ABC correction to the upside.

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    EOS/USD

    From it’s lowest point on Monday at $2.441 the price of EOS has increased by 8.58% measured to the highest point the price has been today which was at $2.65. Currently, it is being traded at $2.6 as a minor pullback occurred.



    A similar pattern can be seen on the chart of EOS as the price came up in a similar fashion. Price action formed an ascending channel with who’s resistance level we have seen an interaction today that ended as a rejection. This could be the 2nd corrective wave out of the next three-wave move to the downside or could be the next five-wave impulse. Like in the case of Litecoin we are going to look for signs of validation or invalidation, namely territory of the 2nd wave in both directions.

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  5. #65
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    EOS/USD

    The price of EOS has increased by 20.3% from last Thursday when it was sitting at $2.58 as it came up to $3.1 at it’s highest point today. Currently, it is being traded slightly lower but has maintained above the $3 mark.



    On the hourly chart, you can see a similar pattern to that of Litecoin with the price making a parabolic rise since the start of the week. Looking at the wave structure it appears that this could be the ending wave out of the five-wave impulse from the 21st but as in the case of Litecoin it could only be the 3rd from the higher degree one. The price is hovering around the half range between two significant horizontal levels so in the upcoming period we can see interaction with the upper one at $3.27, however, I don’t believe that the price is headed there in a straight line.

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    EOS/USD

    The price of EOS has decreased by 15.77% from last week’s Thursday as it came down from $3.1 to $2.61 at it’s lowest point today, but like in the case of LTC found support on it’s descending trendline and has started increasing again.



    On the hourly chart, you can see that the price fell inside the territory of the presumed 1st wave of the higher degree invalidating the impulsive count which was started as a possibility in the case of Litecoin. This could serve as an early indication that the price of LTC is going to do the same but never the less from here I would be expecting an increase.

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    EOS/USD

    The price of EOS has decreased by 19.66% measured from its last week’s high at $2.83 made on Saturday to the lowest point this week at $2.27 made on Monday. From there we have seen an increase of 12.4% as recovery took place with the price currently being traded at $2.53 and is still in an upward trajectory.



    On the hourly chart, you can see that the price made a higher high compared to the one at $2.4 in a steeper more parabolic manner which could be the development of the 3rd wave of the lower degree count which is why another minor one would be expected. This expected increase would be the ending point of the C wave from the ABC correction to the upside which most likely started developing after the previous descending impulse wave ended on Monday.

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  8. #68
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    EOS/USD

    From Monday’s high at $2.75 the price of EOS has decreased by little below 8% as it came down to $2.53 yesterday. After a slight recovery to $2.6 it’s currently being traded lower at around $2.56 and is in a downward trajectory.



    Looking at the hourly chart, we can see a similar pattern to that of LTC but a different interpretation can be made. A wave in the Litecoin’s chart is the ABC in this one with the next move that came after to the upside being the B wave out of the descend ABC to the downside which is now developing its C wave. If this is true then the price is likely to continue moving further to the downside after this minor lower low is being made and is likely to end around the vicinity of the A wave’s ending point at $2.45

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