oliviermo75

EOS/USD Will exceed $10.80 !

BITFINEX:EOSUSD   EOS / Dollar
Here we have EOS/USD on the 4H chart.
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EOS/USD has broken out of the side-wards resistance. When price was testing the support previously it was making lower lows. But on the last retest of support on February 14, it broke out of structure and has now given a clear higher high. There is potential for more upside in this trade.

In the last 24H EOS jump of 6,08%, i am expecting to continue and up move. Before this, price could retest the previous side-wards support level at $8.85 before the up move to the target begins.

This trade could play out in 2 days :

-Price successfully continues to rally to the upside without retesting horizontal support. Price will hit the upside target at $10.

-Price retests the horizontal resistance zone at $8.84 first, before going to the upside target of $10.84.

Bare in mind, that price will more likely hit the upside target level if it retests the support zone first (As outlined in my second scenario). A retest will create a short term wave pattern, which will bring price well on it's way to the upside target at $10.84.

The last 24-hour trading volume is currently about $399,079,000 with a circulating supply of 667,901,886 EOS out of a max of 900,000,000 EOS.

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