A Look At EOS

2018年3月4日

Hello to all traders out there. I wanted to take the time to post a chart of EOS for educational purposes only. We are looking at the 4 hour chart. I posted a chart a few days ago about XLM finding a support area above the lowest low made after an all time high. XLM did bounce up off the area of support. If you look at the chart of EOS, you will see it has also found an area of support above the lowest low it has made since its all time high. The support area is shown on the chart with two blue horizontal lines. EOS also broke the major down trendline that is drawn from the all time high. This trendline is #1 on the chart. EOS also has immediate upside resistance in play with the moving averages. The dotted down trendline on the chart is also providing additional upside resistance (#2). Price is being pinched between support and resistance. This is a similar set up shown by XLM before it bounced off support. It will be interesting to see if EOS gets an upward bounce off its support area. If there is no upward kick in price off the support area, look for price to chop around the area of support and possibly retest the low made on 2018-02-05. This is posted for education purposes only to represent similar price action in two different coins.