Just like expected, Bitcoin dipped from 8k, and EOS entered in the suggested buy zone, from 0.00125 to 0.00148, and then followed a fast rally to 0.0017. Now it's priced at 0.00167, testing the Fib 0.618 level.
Also it's below the MA(20), in orange, which acts as resistance, together with the Fib level.
MACD is starting to turn positive. RSI is neutral, in the middle levels, just like the Bollinger Bands.
As the mainnet launch is approaching, the sentiment could turn out to be the main motivator for price, as we are expecting to test higher levels during this week.
Therefore, unless BTC falls again to 7k or more, I believe that a conservative buy would be at 0.0016, which was the support just below May 25 lows, so EOS may retest again these prices.
Another strategy would be to buy on the breakout. That is, wait if EOS can break the 0.618 Fib level (at 0.0017) and close above it. This indicates the uptrend is confirmed and it aims for higher values.
This is a good reading for buying on breakout www.investopedia.com...rading-breakouts.asp
Also it's below the MA(20), in orange, which acts as resistance, together with the Fib level.
MACD is starting to turn positive. RSI is neutral, in the middle levels, just like the Bollinger Bands.
As the mainnet launch is approaching, the sentiment could turn out to be the main motivator for price, as we are expecting to test higher levels during this week.
Therefore, unless BTC falls again to 7k or more, I believe that a conservative buy would be at 0.0016, which was the support just below May 25 lows, so EOS may retest again these prices.
Another strategy would be to buy on the breakout. That is, wait if EOS can break the 0.618 Fib level (at 0.0017) and close above it. This indicates the uptrend is confirmed and it aims for higher values.
This is a good reading for buying on breakout www.investopedia.com...rading-breakouts.asp
