Some days ago I talked about that LITECOIN and BINANCE COIN were presenting an accelerated approach to what is called “GOLDEN CROSS” milestone. You can read my assessment on those Cryptos here and here .
Now I would like you to attract your attention as well on EOS.
As it occurring with LTC and BNB, EOS is setting up a bullish approach to the Intersection between the 200 Day Moving Average and the 50 Day Moving Average.
EOS price has already crossed the 200 Day Moving Average 10 days ago, which is a very good signal, and I suspect we are going to see another cross through that line in short.
Let me show you the Elliot-Wave Count on which I am playing with is the following:
As you can see in the chart, after a 1st wave up on the December 20th, EOS has been correcting as well as the rest of the market till the end of January (2nd Wave completed).
Now EOS seems being building the 3rd Wave Up which, IMO can be decomposed in 5 sub-waves (green Roman numbers).
From that Subwave decomposition there is 1 wave missing, the (v)th .
If this count is fine, we may see EOS completing the 3rd wave around a target price of 5 USD. Then a correction will come, hopefully getting support on the 200 Day MA itself by end of March.B
By when the “GOLDEN CROSS” on EOS?
As I said, assuming that the EW count is fine, extrapolating the two MA lines would give us March 31st as the most likely date for that.
Let’s see what happens.