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Thread: EOS/USD Analysis

  1. #31
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    EOS/USD

    From Monday’s high at $4.239 the price of EOS has decreased by 22.12% as it fell to $3.3 at its lowest spike today. The price is currently being traded at around $3.59 as it started to recover but strong seller’s presence has been seen which is why the momentum is likely to continue.



    Looking at the hourly chart, you can see that the price broke out from the horizontal range in which it was consolidating from 17th of July but unlike in the case of Litecoin, it hasn’t exceeded the prior low. The hourly candles did close below but the lowest spike has come even slightly higher then the previous one and hasn’t gone below $3.27 horizontal level. Even though the price hasn’t made a lower low we could say that we’ve seen a breakout to the downside as the significant ascending trendline has been broken which is why it is highly likely that the downfall would continue.

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    EOS/USD

    Last week on Thursday the price of EOS was sitting at $3.31 at its lowest spike from where we’ve seen a 14% recovery until Monday when the price reached $3.78 at its highest. But from Monday we have seen another downtrend developing with the price moving back to the last week’s low vicinity above which it is currently being traded at $3.588.



    On the hourly chart, you can see that after a breakout from the horizontal range above $4.16 a lower low has been made compared to the ending point of the corrective wave Y which could indicate that the correction got prolonged by two more waves similarly like in the case of Litecoin. The price has gotten close the horizontal level at $3.27 but there hasn’t been an interaction made but that might change soon as the price is retesting the minor horizontal resistance level and it experiencing seller’s pressure.

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    EOS/USD

    Last Friday, the price of EOS has reached $3.7589 at its highest point which was the horizontal resistance point from the 18th of August. As the interaction ended as a rejection we have seen the sellers pressure pushing the price sharply to the downside falling down to $3.112 at its lowest point yesterday which is a decrease of 17.2% from last week’s high.



    Looking at the hourly chart, you can see that the price came down below the horizontal support level at $3.2787 which has been retested from the downside and has rejected the price confirming that a breakout has occurred.

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    EOS/USD

    From last Thursday when the price of EOS was sitting at around $3 at its lowest point we’ve seen a recovery of 12.3% until Tuesday this week when the price came up $3.45 at its highest. The price is currently being traded at around $3.27 as a minor retracement occurred to the horizontal support level which was broken on the way down.



    On the hourly chart, you can see that the price has managed to move back up above the significant horizontal level and is now retesting it for support which is why if the support is shown as present the recovery might continue.

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    EOS/USD

    The price of EOS has been recovering from Saturday when it came up from $3.19 at its lowest to $3.666 at its highest which was an increase of 14.6%. The price continued increasing until Monday and reached $3.966 at its highest spike when a retracement started. Currently, the price is being traded at $3.697 which is slightly higher from yesterday’s low which could indicate another uptrend continuation, but the price might continue its retracement further.



    Looking at the hourly chart we can see that on Saturday the price broke out from its significant resistance which was the upper level of the descending channel in which the price has been decreasing from the 27th of July. If we are seeing the start of the recovery the price action should develop in a five-wave manner which is why another increase might occur soon. If the price increase continues the likely ending point for the 5th wave could be around the intersection of the horizontal resistance level at $4.16 and the ascending interrupted trendline to $4.3

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    EOS/USD

    The price of EOS has been increasing since Monday but the increase was a minor one as the price came up only by 5.89% from Monday’s low at $3.98 until Tuesday when it came up to $4.21 at its highest point. From Tuesday we have seen a decrease of 8.43% measured to the current level on which the price is being traded which is at $3.86.



    On the hourly chart, we can see that since the start of September the price has been moving to the upside and broke out from the descending channel. The price increase in a five-wave manner which is the first sign of impulsiveness but as the 5th wave ended we are now seeing the first retracement starting to develop to the downside. If this is the start of the higher degree recovery the price could now come down to the Septembers low and retest the $3.27 level before continuing its upward trajectory but it could very well find support on a higher level.

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    EOS/USD

    The price of EOS has been sitting around $3.86 at its highest point on Monday from where we have seen a decrease of 37.84% measured to the lowest spike yesterday which was at $2.4. Now the price is being traded at $2.85 as we have seen a price recovery but like in the case of Litecoin the price is currently retesting its broken horizontal level from the downside, meaning the level is now serving as a resistance point.



    Looking at the hourly chart, we can see that prior to the downfall the price made a five-wave increase to the $4.16 horizontal level where it got rejected. The increase seen was most likely the Y wave from the WXY correction to the upside dating from the 16th of July. If this is true, then now we have seen the downtrend continuation as the correctional stage completed with the price now moving impulsively to the downside.

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    EOS/USD

    The price of EOS has increased from Monday’s low at $2.7336 to $3.1335 on the next day which was an increase of 14.73% but from there decreased again and is currently being traded at $2.9584.



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    EOS/USD

    Similarly like in the case of Litecoin, the price of EOS has also developed an ascending channel from the 27th of September. We have seen an increase of 14.58% from Monday’s low at $2.89 till yesterday’s high at $3.3124 but since yesterday the price started decreasing again and is currently being traded around $3.1.



    The price came up for interaction with the ascending channels resistance and the horizontal level at $3.27 which now serves as resistance for a retest and as it got rejected we have seen downside movement to the prior high vicinity which is currently being tested for support.

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    EOS/USD

    The price of EOS has been in a downtrend from last Wednesday like Litecoin and has decreased by 13.81% coming from Wednesday’s high at $3.319 to $2.86 at its lowest point today.





    Looking at the hourly chart, you can see that the price of EOS also ended its WXY correction with no prolongation before starting to move to the downside again and breaking out from the ascending channels support level. The price fould support on the next significant level which is the horizontal support at $2.86 as today’s interaction ended as a bounce. Currently, we are seeing the price struggling to make a higher high and is showing signs of weakness, indicated by the wick from the upper side of the previous hourly candle, signaling selles pressure is present at those levels so the bounce might not lead to a more sustainable one.

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