EOS: weekly market analysis (from 25 November to 1 December 2019 on a BTC / EOS pair)

By Roberto D. | Price Analysis | 1 week ago

$0.11 tipped

BTC / EOS bears take the scene again

This week we will focus our analysis only on the 1D chart also because on other time frames things are not very different from last Sunday; on the one-day chart what we notice is that after having missed the appointment with the breaking of the EOS resistance it is moving sideways and it is therefore difficult at present to predict which direction the trend will take. What we need to do, therefore, is to identify the levels that act as support and resistance by staying out of the market waiting for a break; as far as support is concerned, we have two levels to keep an eye on, corresponding to the two previous minimums, namely 30400 satoshi and 33300 satoshi, while as far as resistance is concerned we must keep an eye on 41500 satoshi, a level beyond which we would see a bullish trend confirmed. Giving a quick look at the 4H chart, unfortunately, the situation is not clarified, at this moment EOS could take any direction so it is better to avoid making suicide bombers and remain patiently out of the market.

Weekly forecast

Despite what has been said so far, having to take a stand I would say that I am still bullish on EOS; be careful though, because this forecast will almost certainly turn out to be wrong in the short term. The reason why I still have a bullish approach to this currency, in fact, is that I am broadly convinced that December will be a positive month a bit for all the alts; however this does not mean that things will go like this and, above all with regard to EOS, this currency is showing signs of weakness more than many others. Net of what my general orientation may be, then, the advice right now is to stay out of the market.

Please note: this post is not intended to provide any financial advice on how to invest your money, but is for educational purposes only

Roberto D.
Roberto D.

Born in Italy, I live in Italy, passionate about cryptocurrencies since I discovered ethereum in 2015

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