Technically speaking, EOS/USDT is facing a downtrend line at 3.25usdt and it seems difficult to break the downtrend line for the following reasons.
- Price is below the downtrend line
- Price is below the MA100
- MA100 is still facing down
- RSI is facing down
Conclusion:
Case 1: If the pair can break the downtrend line, it will facing the R2 @ 3.51usdt and farther is R3 @ 3.83 usdt
We will place a long order if price closes above downtrend line and MA100 with a tight stoploss @ 3.2usdt
Case 2: we can short this pair right now at 3.21usdt, set stoploss @ 3.51usdt, TP1 @ 2.9usdt, TP2 @ 2.46usdt
NOTE:
Please take cautions before trading, nothing is perfect. Technical Analysis is not always correct due to a lot of reasons.
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