Cryptocurrencies

EOS technical analysis

EOS seen from the temporality of 1D we can observe in the major figure a bearish flag that should conclude to the zone of target located below the zone of weekly demand located in the 1.8973, we see how a setup of a HSH has been formed in the resistance located in the 4.4224, the candlestick structure shows bearish divergence, I have pointed out in the chart above the diagonal support shown in blue, the price should approach it in its fall, the current candle is not shown at all well and is giving the last chance to leave on time, it is very possible that at the close of the daily candle, the price precipitates in fall.

EOS seen from the temporality of 4H we can observe more closely the current movement of the candles within the figure, we see how the second shoulder has failed the test in the resistance of 4.4224 causing the price is falling.

In conclusion, the price in the next few days or weeks should continue to fall towards the zone of weekly demand giving even an excellent opportunity to buy below the support located at 1.8973, reached that price we will have an excellent profit margin of 150%+, the volume has been falling considerably during this bullish impulse that has given the price within the figure, being only a trap for bulls, in the game of (EW) represents the fourth wave of correction, short operations will start to gain ground in the coming hours, I recommend to be very attentive to the movement.

As I always say, you have to be aware of the movement, invalidations can occur, there is no 100% reliable analysis, take your own precautions when trading.

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