EOS technical analysis

EOS seen from the temporality of 1D we can observe how the price is very close to reach the support located in the 7085, reached that point we could see three possible scenarios, the first of them would be that the price to reach the support would find strong demand that will push the candle strongly up, anyway if this happens we would have to wait for confirmation, the second scenario would be that the price to reach the support close below, if so we would have a pullback that claims support, then we would have a strong signal to buy, the bearish scenario would be that after the pullback the price will not be able to claim support, then we should see the price fall strongly to the next support located at 5077, I must mention that the area where the price would find support to make the pullback is the support of the parallel channel of the major figure.

EOS seen from the temporality of 4H we can observe a bearish pattern that I have pointed out in the graph inside the blue rectangles, of producing the same effect we would have a brief bullish movement that would not end up going very far to fall and test the support before mentioned, for now, the candle is testing the support of the bearish channel.

EOS seen from the temporality of 1H we can observe more closely the effect that would have the pattern mentioned in 4H, the candles would be finding resistance in the 7337, indicated in the image above with the blue horizontal color, in case of invalidation of the pattern we could see the price reach the price range located in the 7554 – 7576, this zone has been working as S / R FLIP, which would coincide with the resistance of the down channel.

In conclusion, the most advisable would be to wait until the price reaches the 7085 support in 1D and wait for the closing to make any choice, EOS in the medium and long term looks very bullish, for now we have to wait for the validations.

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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