DLavrov

EOSUSD: The Price Reached The Uptrend Line. What's Next?

Long
The price dropped to the uptrend line, and the price action in this zone is very important for the further market movement.

We got a new swing high, which is lower than the previous one. If the price breaks the uptrend line and the previous swing low, a downtrend will be confirmed.

Now, we should only watch for the price action at the uptrend line and follow the signals from the market.
If hourly timeframes provide reversal signals, it will be possible to buy with stops below the uptrend line.

If the price breaks the uptrend line and moves below the swing low, it will confirm the downward movement. We will have to search for new buy opportunities based on lower support zones.

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