CryptocurrenciesX

EOS Bears Win the Battle – What’s Next?

By 05/12/2018 No Comments

The EOS breakout is finally here. And it’s not what the bulls were waiting for. After the massive gains towards the all-time-high level of $23 in April, EOS got trapped in a triangle chart pattern as the bullish momentum slowed down.

This was just at the time when EOS dev team announced via Steemit that they are planning on establishing fair block production voting. We were waiting as the calm before the storm passes, but weren’t sure which direction the market will push the cryptocurrency.

Get my Updates. Free.

EOS/USD Technical Analysis

On Saturday, it became evident that the bears have won the battle as EOS/USD confirmed the break below the triangle. It tested as low as the 61% Fibonacci retracement level of $12.16 before correcting a bit.

EOS Bearish Breakout

EOS Bearish Breakout

On Ichimoku Kinko Hyo’s daily setup, the Tenkan line is just about to cross below the Kijun line.

If the bearish sentiment keeps up throughout the weekend, we could see a touchdown of the 78% Fibonacci retracement level of $9.49 before the bulls restore power.

 

Get my Updates. Free.

Investing Strategy

With this, if you’re an investor who believes in EOS’s technology, you might consider the current price an ideal opportunity to buy.

Despite the recent selloff, EOS has maintained its spot as the 5th largest cryptocurrency by market cap, trailing behind Bitcoin Cash, Ripple, Ethereum and Bitcoin.

Coming up for EOS.IO is their global hackathon starting June 2018.

 

Ichimoku Secrets Book Cover 3D Get it Now Button

As the 4th point of the IDDA technique, you must calculate your risk tolerance before deciding on the investment strategy that is suitable for your portfolio.

Join our investing group to get the latest trading signals, stop-loss, take-profit and other limit order ideas. Our comprehensive signals will help you create a unique strategy for you, according to your risk tolerance.

Don’t forget to complete your risk management due-diligence before developing your investment strategy.

Invest responsibly,

Kiana

Leave a Reply

 

 

  • Economic Calendar
  • Terms of Service
  • Privacy Policy
  • Disclaimer:Investing in the financial markets involves a risk of loss.
    You should only invest the money you can afford to lose.

    Invest Diva (KPHR Capital, LLC) and Kiana Danial are NOT a financial advisor. Nothing said on investdiva.com by Kiana Danial or other contributors is meant to be a recommendation to buy or sell any financial instrument.