Welcome everyone, hope you all are doing well. Let us see a bigger picture of EOS on a longer time frame. I tried my level best to analyze EOSUSD daily graph.
Here's what i found out:
MACD is strongly Bullish and is giving a Buy signal.
Volume Flow indicator is around 10 which means a good Bullish momentum.
RSI is moving in 80-ish region which means overbought but In an uptrend or bull market, the RSI tends to remain in the 40 to 90 range with the 40-50 zone acting as support. But we must be looking at the combination of all these indicators and not just RSI. [*}+DMI is above -DMI and ADX is above 50 which means a very strong uptrend.
45 Days MA is strongly curving upwards which confirms uptrend.
Possible long term Targets can be $15.50, $17 and $18.70(Previous ATH) and then maybe a new ATH.
Also, Keep in mind that the price of EOSUSD is severely affected by the price movement of BTC.
P.S: This is not an investment advice, and i am just learning. This is for educational purpose only. Invest you capital at your own risk.
Those who wish to achieve greatness, never seek for permissions. They follow what their heart says, and do what their mind states!
EOS longs are at an ATH.
tradingview.com/chart/BP81wTDC/ I am estimating that there will be a push downward before a run up in May.
Thoughts?
johntradingwick
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@wettch, Definitely there's a need for some correction. EOS had a great run up in the last 2 weeks. I have closed my EOS trade and taken profit. Now, i am sitting on the sideline and waiting for the retracement.
tradingview.com/chart/BP81wTDC/
I am estimating that there will be a push downward before a run up in May.
Thoughts?