In the long term, I believe EOS is extremely bullish. Nevertheless, it's overextended and more corrections may be coming. We can observe bearish divergence in the past few days, too.
Unlike IOTA, EOS has not overextended as much. (note IOTA has much higher supply) It's possible that a new trend line is legitimate.
For extreme bullishness, a rebound @ .618 = $7.2 will occur. Some may argue that it has been hit yesterday. This remains to be seen.
More likely, it should touch the new trend line @ .5 = $6.5.
Also check out my website: jlteng.com
Unlike IOTA, EOS has not overextended as much. (note IOTA has much higher supply) It's possible that a new trend line is legitimate.
For extreme bullishness, a rebound @ .618 = $7.2 will occur. Some may argue that it has been hit yesterday. This remains to be seen.
More likely, it should touch the new trend line @ .5 = $6.5.
Also check out my website: jlteng.com
Note
As ETH appears to have broken the ascending triangle, EOSUSD is likely to rise as well. It's uncertain that $7.2 will be touched again.
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Related publications
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.