CryptoMarket360

EOS posting another range-bound week

BITFINEX:EOSUSD   EOS / Dollar
Same old Same old… not much change on this chart at all.

This market busted through a near-term dotted trend line to the upside, but the needed momentum to back it up has dried up. The Average Directional Index ( ADX ) line was trying to turn higher to show some trend strength building, but has fizzled out a bit. The directional index lines are all knotted up and on low momentum… a range-bound week ahead.

A signal for more range-bound trading within support 1 and resistance 1.

Weekly S/R

Critical Resistance: $7.360
Key Resistance: $5.650

Key Support: $4.620
Critical Support: $4.163
I wouldn't say range bound. Since the price was rejected under the technical selling pressure of the 0.786 Fibonacci retracement level and should make a quick test of the 4.6650 support, followed by our target: 3.8925

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you are wrong
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CryptoMarket360 RickyParker
@RickyParker, Why do you think?
+1 Reply
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