EOS has been trying to break the down trend since the recent low on November 25th and is currently trading just below significant resistance. There has been a few unsuccessful attempts in the past week to break this level, however, sellers have failed to make new lows; longs have been able to maintain the upward movement (dashed yellow trend line). More importantly, this is all happening within a significant downward channel, with the upper trend line of the channel converging with significant horizontal support at $2.7.
It goes without saying that this market is risky right now but this is a great opportunity for EOS to grow. If we see strong upward movement with significant bullish volume above $2.7, I think we could see a major reversal to the upside.
It goes without saying that this market is risky right now but this is a great opportunity for EOS to grow. If we see strong upward movement with significant bullish volume above $2.7, I think we could see a major reversal to the upside.