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Thread: EOS/USD Analysis

  1. #76
    Piplet
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    Looking at the hourly chart, you can see that the price broke out from the descending trendline and is interacting with the minor non-labeled horizontal level of the upper range between the 1.272 Fibonacci level. Like in the case of Litecoin we are most likely to see further upside movement after this retracement ends as a bullish momentum was strong enough to break the descending trendline, so the referred retracement may end as a retest of the descending trendline.
    It's always great to see some new graphics of that, and analytics about cryptocurrency movements. Talking about that, and considering about "is Bitcoin a good investment?" - I can recommend this awesome website with a fantastic read where author gave comprehensive analysis about cryptocurrency nowadays and how you should invest your money properly.
    Last edited by victor8NB; 07-14-2020 at 03:27 PM.

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  3. #77
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    EOS/USD

    From last Thursday when the price of EOS has been sitting on its highest point at $2.73 we have seen a decrease of 11% measured to its lowest point today made at $2.432. At the moment the price is being traded slightly higher but has made a steep downfall from the yesterdays high and is still in a downward trajectory.



    Looking at the hourly chart, you can see that like in the case of Litecoin we have seen the completion of the five-wave move to the upside followed by the development of the five-wave move to the downside. This indicates that the previous structure with the ascending triangle from the 28th of Jun was another ABC to the upside which is why after it ended another round of impulsive downside movement has been seen.

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  4. #78
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    EOS/USD

    The price of EOS has made its significant low on Sunday at around $2.48 level and from there started increasing impulsively to the upside with strong bullish momentum and reached $2.68 at its highest point which was an increase of 8.27%. Looking at the hourly chart below, we can see that the price is currently retesting the 0.786 Fibonacci level as it went slightly below it but is now looking for signs of support.



    Like in the case of Litecoin we have seen the development of the 3rd wave of a lower degree count which is why more upside would be expected from here but the current price action is likely first going to develop the 4th one as we have seen a retracement back below the significant Fib level. If this is true another minor move to the downside would be expected from here which is likely to test the $2.64 horizontal resistance level but after it ends a move to the 1 Fib level is likely to be seen which would bring the price back up to $2.7319

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  5. #79
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    EOS/USD

    From last week’s low made on Monday at $2.557, the price of EOS has increased by 23.76% as it came up to $3.1646 at its highest point on yesterday but has since then made a decrease of 6%. At the moment this cryptocurrency is being traded above the $3 mark as a minor recovery is being made but is in a downward trajectory overall.



    Looking at the hourly chart, we can see that from the 16th of July when the first minor move to the upside has been made the price of EOS has been developing a five-wave impulse to the upside and has now developed most likely it’s 3rd one with the price now likely undergoing a more significant corrective stage as the 4th wave should develop. Considering the impulsiveness seen it is unlikely that the price is going to be pushed for much lower than the ending point of the prior lower degree 5th wave which is around $2.9 but in theory, the price could continue moving to the downside to the $2.6 area where the beginning of the territory of the 1st wave is.

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