EOS/USDT Technical Analysis (Binance)

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.

Have a happy trading day!

Dont forget to FOLLOW me to receive next T.A on all coins. Thank you very much for your support.

How do you rate this article?

3 Years in cryptocurrencies analysis. Hope that we all are winners

Altcoins with high potential move up

Send a $0.01 microtip in crypto to the author, and earn yourself as you read!

20% to author / 80% to me.
We pay the tips from our rewards pool.