* We always provide both the bullish and bearish scenarios because the traders should be aware of what to expect in both cases.
After it bottomed at $3.64 level on March.18, EOS saw a rapid move. It stopped at the $7.44 level. It's 38.2 percent Fibonacci retracements from the recent fall from $19.50 to $3.64. EOS is also trading above the 20-day EMA which is positive. If we want to see a further move upward, EOS needs to go above both the 38.2 percent Fibonacci retracements and the 50-day SMA (now at $7.67). If it succeeds to clear these levels a move to $9.73 is expected.
On the contrary, EOS will find support from $5.74 and the trendline as well.
Please be noted that I'm just giving the possible higher or lower levels developing according to the chart patterns. It's my own analysis. You should conduct your own research when making a decision.
After it bottomed at $3.64 level on March.18, EOS saw a rapid move. It stopped at the $7.44 level. It's 38.2 percent Fibonacci retracements from the recent fall from $19.50 to $3.64. EOS is also trading above the 20-day EMA which is positive. If we want to see a further move upward, EOS needs to go above both the 38.2 percent Fibonacci retracements and the 50-day SMA (now at $7.67). If it succeeds to clear these levels a move to $9.73 is expected.
On the contrary, EOS will find support from $5.74 and the trendline as well.
Please be noted that I'm just giving the possible higher or lower levels developing according to the chart patterns. It's my own analysis. You should conduct your own research when making a decision.