Even if in the last 7 days the price lost almost 19% from it's value, February can be still considered a very good month for EOS, as the total growth is close to 56% today.
The beginning was hard, with the price moving sideways in the first week, but once the trading volumes have gained consistency, the price has found the necessary strength to cross the 20 days Moving Average and the bullish trend has started on the 8th.
This major change has been announced by the MACD, with it's Moving Average consolidating it's position at the top of the Signal, but also by the Stochastic with it's "fast" line crossing the "slow" one in the same day.
Therefore, we can conclude that the general trend on a 1D chart has been indicated by the MACD, while the Stochastic and the trading volumes accurately showed us the changes of the price direction for smaller intervals.
Today, if we want to follow the same pattern, we can see that these 3 parameters are slightly showing opposite directions as it follows :
* So far, the trading volumes are smaller than yesterday but there is some consistency showed by the green candlestick. This means that the price has chances to continue today's increase.
* The Stochastic is about to register another crossover and if it's "fast" line will go above the "slow" one, it will indicate the same direction like the trading volumes.
* On the other hand, the MACD has crossed the Signal for the first time since the 8th of this month and if it's position will be consolidated at the bottom, it will indicate a price drop.
Given these circumstances, the main scenario is the one where the increase will continue for a very short period of time but the price will eventually go below the 20 days MA and a Bearish trend will start from there. The ones with a higher risk appetite can consider the target of 2.73$.
The beginning was hard, with the price moving sideways in the first week, but once the trading volumes have gained consistency, the price has found the necessary strength to cross the 20 days Moving Average and the bullish trend has started on the 8th.
This major change has been announced by the MACD, with it's Moving Average consolidating it's position at the top of the Signal, but also by the Stochastic with it's "fast" line crossing the "slow" one in the same day.
Therefore, we can conclude that the general trend on a 1D chart has been indicated by the MACD, while the Stochastic and the trading volumes accurately showed us the changes of the price direction for smaller intervals.
Today, if we want to follow the same pattern, we can see that these 3 parameters are slightly showing opposite directions as it follows :
* So far, the trading volumes are smaller than yesterday but there is some consistency showed by the green candlestick. This means that the price has chances to continue today's increase.
* The Stochastic is about to register another crossover and if it's "fast" line will go above the "slow" one, it will indicate the same direction like the trading volumes.
* On the other hand, the MACD has crossed the Signal for the first time since the 8th of this month and if it's position will be consolidated at the bottom, it will indicate a price drop.
Given these circumstances, the main scenario is the one where the increase will continue for a very short period of time but the price will eventually go below the 20 days MA and a Bearish trend will start from there. The ones with a higher risk appetite can consider the target of 2.73$.
