We have been experiencing huge downturns in the last 2 weeks. Today we look at the coin, which probably got the most out of the TOP 20.
We will speak about the EOS coin. At the beginning of June, this coin traded at $ 8.67 and is currently at $ 3.70. This is more than a 60% decrease per month and half. Especially during last days EOS is really falling. Its decline is spread over 3 waves in the form of correction. However, the last wave, the C wave, is unusually long, so it is possible that the correction will continue. From the whole fall we got almost to 0.786 retracement.
What to notice on the chart right now?
Never catch a falling knife. What does it mean? If the market is still falling, never go into such a brutal decline. If the price for a coin seems attractive to you, never jump into such dumps and wait for the reflection.
What to watch on this coin?
1. Generating a higher maximum and a higher minimum of at least 1H, or 4H
2. The Friedrichs indicator will show the BUY signal at 12H and 1D
3. 3. Divergences of at 1H and 4H
Some of these conditions have been met yesterday, but we must also consider the market as a whole. If we analyze the coin against the dollar, it is strongly bound to bitcoin . EOS looked very good yesterday and still fell by another 17%. Bitcoin may not have completed its correction yet, and therefore EOS may continue to decline. In this case, further downturns would have very bad consequences. In addition to the striking loss of value, the downward angle, which is very steep, is also terrible.
There are several supports marked on the chart. At the moment, it is very difficult to say on which support the gamechanger will come and the EOS will turn. It will not only depend on it but also on bitcoin .