EOS has established significant support over the last 6 weeks. This may be the lower edge of bear flag within a larger sell-off, or the beginning of a new bullish trend. The pattern is similar when EOS is priced in BTC, and EOS is one of the few crypto assets that has held its ground against BTC since early August.
The key level is $6.92 - for the primary trend to be viewed as bullish this level needs to be broken to give us both a higher low and a higher high. This level therefore needs to be tested, and would be a good target for the next rally - provided of course the price doesn't breach previous support area which is currently around $4.87.
The key level is $6.92 - for the primary trend to be viewed as bullish this level needs to be broken to give us both a higher low and a higher high. This level therefore needs to be tested, and would be a good target for the next rally - provided of course the price doesn't breach previous support area which is currently around $4.87.