It Will Be A Life Changing Move For EOS Coin Holders

It Will Be A Life Changing Move For EOS Coin Holders

By moon333 | moon333 | 14 Jul 2021


 

Uptrendline support and SMAs:

On the weekly time frame chart, it can be easily observed that the price action of EOS coin has found if very strong long-term uptrend line support. And price line is not able to break down this trendline support for a very long time period. Recently the candlesticks of EOS have re-tested this trend line support and now moving above this level. At the same time, the price line of EOS has also tested the 50 and 100 simple moving averages. The 50 simple moving average has already crossed up the 100 simple moving average which is a bullish signal, because when the smaller time period moving average crosses up the bigger time period moving average that is considered a buying signal.

j1RXMFXK

Stochastic and Momentum:

If we take a look at the stochastic oscillator on the weekly time frame then it can be noticed that for several weeks it is moving in the oversold zone, indicating that the market of EOS is quite oversold. But if we take a look at the momentum indicator then it is still strong bearish. Therefore, once the momentum will be started turning bullish then a big rally from here can be started like previously it happened.

Fe0QkG7Y

Big bullish Shark:

On the weekly time frame chart, the price action of EOS has formed a big bullish Shark pattern. There is very strong support at 100 simple moving average in the buying zone. The buying and sell targets as per the Fibonacci sequence of Shark can be as below:

Buy between: $3.83 to $2.45

Sell between: $5.71 to $9.17

The buying zone is too wide up to 57%, therefore we can use the 100 SMA as stop-loss which is at $3.52 right now.

DkRFHC7t_big.png

https://www.tradingview.com/chart/EOSUSDT/DkRFHC7t-EOS-formed-a-big-bullish-Shark-for-huge-rally/

 

Don't forget to upvote/tip and share the post, thanks

 

You can also support my work at Patreon for more ideas:

https://www.patreon.com/moon333

 

In order to play and watch the current performance of the chart you need at least a free account on tradingview:

https://www.tradingview.com/gopro/?share_your_love=moon333

KuCoin is one of the best exchange to find crypto gems:

https://www.kucoin.com/ucenter/signup?rcode=rJSDVT3

 

Link for Binance exchange, to trade crypto:

https://www.binance.com/?ref=11256882 

 

 

Note: Above idea is for educational purpose only. It is advised to diversify and strictly follow the stop loss, and don't get stuck with trade.

 

 

 

How do you rate this article?


6

0

moon333
moon333

Hi, My name is Atif Akbar and I am a trader and trading charts author


moon333
moon333

Hi my name is Atif Akbar and i am trading charts author of different assets like crypto, forex, commodities, CFDs Stocks e.t.c.

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.