DLavrov

EOS: Strong Support Zone and Possible Buy Signals

BITFINEX:EOSUSD   EOS / Dollar
The price reached 3.00 support zone , which is rather strong, and it can be a starting point for a new uptrend. Of course, it will be if the whole crypto can provide fundamental support for this market.
Now, we have the coin which looks oversold, and it is going to provide exciting buy opportunities.

If the price breaks the local downtrend line, it will be a buy signal with stop orders below the local swing low. Profit targets will be the resistance levels. It will be the first attempt to start the bullish trend .
If buyers fail, we should be ready to see the sideways movement in the borders between 3.00 and 6.00 levels.

If BTC continues falling, this market also will be able to move downward. In such way all reversals from the lower support levels will be good for buying and holding in the long run.
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Solid analysis as always come from you Lavrov. If EOS claims the $4.4 level and tests it as support then we could talk about trend reversal. Until then, just better wait for higher probability setup.
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@Rugova, thanks for your feedback! The breakout above the downtrend line will be only the 1st step in the trend reversal structure. I agree with you, the price will neeed to move above 4.40 and even higher. Also I would like to get swing highs and lows moving upward. After that, we will be able to talk about the uptrend.
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