EOSUSD @ Binance weekly analisys
EOS is far from it's ATH (almost 20$).
It's lacking buzz and the fact that it's main developer left this project (another one) it might be the end fot this coin.
BUT... It's still alive and everything is possible in the crypto world (XRP and DOGE recent pump).
So... for those interested in trading this coin, exiting or entering, here are my thoughts:
The overall trend is neutral... I think EOS is entering an accumulation tunnel with 2.1 as support and 4.4 as resistance on a Monthly perspective.
On the weekly perspective, there is the 3.9 resistance wich might be tested again.
Reasons to enter:
Price is above the 20 and 50 Moving Average (bullish - going long). If we get a green candle to close ABOVE 150 MA it may be add as a bullish signal. We have also a 3.28$ resistance on the Weekly that has been tested several times before and is now a support (green horizontal line). Also, the 20 and the 50 MA have crossed.
Long:
Entry: after green candle closing above the current support (3.34$) [around 3.40$]
Stop loss: slightly below 3.34$
First target: next Weekly resistance -> 3.90$ pull 75% total invested
Second target: next Monthly resistance -> 4.45$ pull remaining EOS invested.
Good trades!
BM
It's lacking buzz and the fact that it's main developer left this project (another one) it might be the end fot this coin.
BUT... It's still alive and everything is possible in the crypto world (XRP and DOGE recent pump).
So... for those interested in trading this coin, exiting or entering, here are my thoughts:
The overall trend is neutral... I think EOS is entering an accumulation tunnel with 2.1 as support and 4.4 as resistance on a Monthly perspective.
On the weekly perspective, there is the 3.9 resistance wich might be tested again.
Reasons to enter:
Price is above the 20 and 50 Moving Average (bullish - going long). If we get a green candle to close ABOVE 150 MA it may be add as a bullish signal. We have also a 3.28$ resistance on the Weekly that has been tested several times before and is now a support (green horizontal line). Also, the 20 and the 50 MA have crossed.
Long:
Entry: after green candle closing above the current support (3.34$) [around 3.40$]
Stop loss: slightly below 3.34$
First target: next Weekly resistance -> 3.90$ pull 75% total invested
Second target: next Monthly resistance -> 4.45$ pull remaining EOS invested.
Good trades!
BM
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