EOSUSDT - FACES RESISTANCE - IS A DOWNTURN ON THE HORIZON?

Apr 3, 2025

Symbol - EOSUSDT

CMP - 0.820

EOSUSDT has reached key resistance within the consolidation range of 0.54 - 0.60, where it has formed a false breakdown, signaling a lack of potential for further upward movement. The broader cryptocurrency market is currently displaying signs of weakness, exacerbated by yesterday’s speech by President Trump and the subsequent approval of new tariffs, which have introduced additional risks and pressure on the market. Following a rally, Bitcoin has returned to a negative trend, while altcoins are continuing to seek new lows. EOSUSDT, however, has shown notable strength, suggesting that its recent price movement may be part of a countertrend accumulation strategy aimed at capturing liquidity within the 0.7 – 0.8 range. This distribution pattern is further characterized by a false breakout within the 0.82 – 0.86 range.

Key resistance levels: 0.820, 0.860
Key support levels: 0.793, 0.666

If bearish pressure manages to maintain resistance between 0.82 – 0.86 and the consolidation below this range culminates in a breakout at 0.793, followed by price consolidation in the selling zone, a potential reversal and decline towards key zones of interest - such as the FVG, 0.64, and 0.541 - could occur.

Apr 7, 2025

Trade active

CMP 0.710

-14% fall from my short level as of now.
Holding with cost SL.

Apr 9, 2025

Trade closed: target reached

CMP 0.660

-20% fall from my short level. First target reached.