Wäert dëst Bullish Muster den EOS Präis op $ 2.80 proposéieren?

The EOS/USDT pair failed to give a bullish breakout of a Ronn ënnen Muster due to the increased selling pressure at the $1.89 supply zone. However, the price action displays the underlying bullish sentiment is preparing a trend reversal with a cup and handle pattern. So, should you consider buying for the long-term or wait for the current correction phase to cool off?

Key points: from EOS analysis: 

• The EOS price action shows the formation of the cup and handle pattern
• The 50-and-100-day EMA nearing a bullish crossover encourages growth in underlying bullish momentum
• Den Intraday Handelsvolumen an der EOS ass $ 1.5 Milliarde, wat e Gewënn vun 48% ugeet

Quelltext- Tradingview

d' bullish reversal Muster discussed in our previous article failed to break the resistance neckline at the $1.9 mark. Currently, the bearish turnaround from the overhead resistance accounts for a price drop of 13% in the last four days. 

The correction phase approaches the $1.58 support level after breaking below the 200 days EMA. However, the prices sustain above the 100-day EMA, which increases the possibility of a bullish crossover with the 50-day EMA. 

Coming back to the price action, the possibility of a cup and handle pattern arises in the daily chart after the prices are reversed from the $1.89 supply zone. However, the bullish reversal to complete the price pattern may drop below the $1.5 mark before taking a bullish reversal from the $1.41 support level. 

Hence an opportunity to short-sell at the current market price arises for the sideline traders. 

In the long term, If the EOS prices manage to exceed the supply zone at $1.89 to give the cup and handle pattern breakout, a prolonged uptrend to the $2.80 mark is possible. 

Technesch Luucht

DMI Indikator: the DI lines project a bullish trend in the US prices despite the recent downfall. Meanwhile, the ADX line maintains a positive trend reflecting an increasing trend momentum. 

RSI– despite the suddenly increased volatility in market price, The RSI slope maintains a diagonal uptrend in the nearly overbought zone. 

• Resistenzniveauen - $ 1.56, an $ 1.73
• Ënnerstëtzungsniveauen - $ 1.41 an $ 1.26