Cryptocurrencies

EOS Price Working Through a Descending Triangle

The price of EOS has been bouncing around near the support level in the mid 5's of late.   After making a lower higher following it's latest top in price on June 1st it is important to pay mind to this level.

Resolution is Near

There is a descending triangle in the works as you can see from looking at the chart in this post.

Now let's be real, you can see we still have some time before price would reach the apex, likely two weeks, assuming price were to continue grinding sideways.

As we know though, anything can happen with price action on cryptos.   At anytime price could fail that 5.60 level and then open up downside risk to 4.60 (the latest bottoms).

If price pushed higher sooner rather than later we want to keep an eye on it breaching the descending trend line.  6.50 and then 7.50 are the upside targets I would keep my eyes on initially.

Conclusion

Regardless of what happens we should always have an idea of the upside and down side targets along with what if any trend a crypto's price is currently in.   That old saying "knowing is half the battle" really does ring true!

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