EOS has broken the previous EQ pattern Bearish. I see this movement very correlated to BTC recent Bearish price movements.
I would consider this a positive development for those looking to take add EOS to their long-term portfolio. EOS has the potential to be one of the most dominant coins in the next Bull Market based on many different reasons - Main Net launch, Airdrops, Galaxy Capital backing, overall fundamentals, first to market 3rd Generation Blockchain, etc...
EOS Stochastic RSI is bottomed out and still looking to reverse momentum in a positive direction. Additionally, the 50-day Moving Average should act as support as the price gets closer to it. If the EOS price breaks below the 50 day MA, it will be time to reconsider the strength of EOS for the 2018 Alt-coin Bull Market.
For those of you who have not added EOS to your long-term portfolio, consider this you GOLDEN OPPORTUNITY to do so.
ALL THIS TAKEN INTO CONSIDERATION, BTC is the ultimate Barometer for this market. Always take BTCs price action into consideration before entering a position in any other ALT coin. If BTC has it's bottom drop out and it runs to $6,000, EOS will follow and reach lower levels ($8-$10). However, if BTC remains stable in the $8k range, EOS should develop support near its previous resistance and build momentum for its next leg higher.
I would consider this a positive development for those looking to take add EOS to their long-term portfolio. EOS has the potential to be one of the most dominant coins in the next Bull Market based on many different reasons - Main Net launch, Airdrops, Galaxy Capital backing, overall fundamentals, first to market 3rd Generation Blockchain, etc...
EOS Stochastic RSI is bottomed out and still looking to reverse momentum in a positive direction. Additionally, the 50-day Moving Average should act as support as the price gets closer to it. If the EOS price breaks below the 50 day MA, it will be time to reconsider the strength of EOS for the 2018 Alt-coin Bull Market.
For those of you who have not added EOS to your long-term portfolio, consider this you GOLDEN OPPORTUNITY to do so.
ALL THIS TAKEN INTO CONSIDERATION, BTC is the ultimate Barometer for this market. Always take BTCs price action into consideration before entering a position in any other ALT coin. If BTC has it's bottom drop out and it runs to $6,000, EOS will follow and reach lower levels ($8-$10). However, if BTC remains stable in the $8k range, EOS should develop support near its previous resistance and build momentum for its next leg higher.