I think EOSUSD hit the (short term) bottom yesterday and will be in an uptrend till it sees a price level around/above $26.
As can be seen on the chart, there are 2 different channels:
1. Blue trend lines: I think the short term target will be $16-$18.
2. Black trend lines: This is the mid-to-long-run target, which is above $26 (up to $32.)
Let's wait and see.
As can be seen on the chart, there are 2 different channels:
1. Blue trend lines: I think the short term target will be $16-$18.
2. Black trend lines: This is the mid-to-long-run target, which is above $26 (up to $32.)
Let's wait and see.
Note
Look at the RSI: it is quite oversold and needs a strong impulse.Note
Please check 1H, 2H and 4H charts and you will see positive (bullish) divergence.Note
Is it a bear trap?
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.