Furthermore, the last two EOSUSD pumps were fueled by margin traders (see EOSUSDLONGS chart). I would be extremely cautious because last year could realy have been an artificial pump leading to the main launch. There are 8 000 000 EOS longs that are currently at break even/underwater. We don't know there liquidation point but I suspect Longs will have to go down before we see new bull run for EOS.
Now the longs are not increasing, but we see a sharp increase in shorts at an important crossroad. I don't see any indications of a bottom. is not really increasing and the only thing holding this is speculators because everyone think EOS at 5$ is a steal. My feeling is that big players with deep pockets will bleed EOS further down and the market won't have enough capital to hold em.
I expect a small bounce because the market is getting back on track. But this will be short lived.
My 2 cents.