EOS/USDT Technical Analysis (Binance)

By NPH | Altcoins to watch out | 1 week ago

$0.18 tipped


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!

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NPH
NPH

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


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