Eidoo is one of those very new coins that has started to show some signs of strength, in the short term. Clearly, the uptrend is emerging, and while btc 0.00024 support is holding the growth tendency is very likely to continue.
On the last corrective wave down Eidoo lost 40% to Bitcoin, after dropping from btc 0.00047 down to 0.0026. The correction stoped on the uptrend trendline that has been rejected sending the price up once again. Although EDO/BTC could consolidate for a little while the uptrend is likely to continue, sending price up to btc 0.0007 levels where two Fibonacci retracement levels are inline.
The support remains between btc 0.00028 and 0.00024 and only break and close below could invalidate bullish outlook.
On the last corrective wave down Eidoo lost 40% to Bitcoin, after dropping from btc 0.00047 down to 0.0026. The correction stoped on the uptrend trendline that has been rejected sending the price up once again. Although EDO/BTC could consolidate for a little while the uptrend is likely to continue, sending price up to btc 0.0007 levels where two Fibonacci retracement levels are inline.
The support remains between btc 0.00028 and 0.00024 and only break and close below could invalidate bullish outlook.
Comment:
Eidoo at the support