EOS/USDT: Bullish Breakout Analysis 1D (Jul. 29)

X Force Global Analysis:


If you find our analyses to be helpful, make sure to support us by dropping a ‘like’


In this post, we analyze EOS' daily chart for its Tether (USDT) pair, assessing its bullish probabilities.

Analysis

- EOS has broken out of a descending wedge pattern
- After weeks of consolidation, it looks to create new highs for this year
- Using the length of the pole leading up to the consolidation, we could expect this breakout to lead a rally to the 1.618 Fibonacci retracement resistance

What We Believe

The daily setup looks extremely bullish for EOS, as confirmation has been provided from a breakout, leading prices to new highs through bullish rallies.

Let us know what you think in the comment section below


Trade Safe.