Not gonna lie that I don't know much about EOS except from the fact that it is ETH competitor.
Last time I heard big thing about EOS was Voice.com annoucement in 2019.
Then it finally launched Beta on July 4,2020 after some months delay.Price has been stagnant/dumping for some time now.
But I've some good news for EOS community.
EOS is currently sitting near All-time-low support around 1.8577$(excluding wicks).There is a trendline drawn as yellow box starting from 2019 June -2020 February.MACD is crossing bullish (circled) and everytime MACD Crossed bullish in history it rallied 200-400%.Conversion line(Blue) is also curving below price which can act as semi support for local area.Baseline (Red) is the first midterm resistance of EOS.If you look at the fibs 0.236,it also coincide with Baseline resistance.(Conversion Line & Baseline are tools of Ichimoku Cloud)
So normally this pattern tends to Breakout but what I like about this setup as a trader is Risk:Reward.
Current price = 2.5$
Stoploss =weekly close below 1.85$
1st resistance is around 5$
Since market has been too bullish ,I might not market buy EOS right here although chart looks great(I know EOS has not pumped since February ,I know).
So here is my trade plan
50% of funds at 2.3$
25% of funds at 2.1$
Final 25% of the funds at 1.9$ in hope of catching wicks
So,my average entry would be around 2-2.1$ and if EOS decides to break All-Time-Low...,we only lose maximum 10-15%,while if it goes to the moon,we can profit 250% at the first weekly resistance (5$).
If 5$ resistance is turned into support,we can aim higher resistances at 7.2$ and 8.8$.
But Fundamental wise,is EOS a walking dead coin?
I have not heard anyone talked about EOS for months+many of the EOS investors I know gave up and left.(This is no fud,I repeat this is no fud).
Thanks for Reading the Article.
If you want more of these setups,follow me on tradingview where I usually posts charts there https://www.tradingview.com/u/tikyikhant/
Please share me ur thoughts on EOS in comments.