Hard times came on the EOS market on January 10. After breaking the global trend line, buyers tested the mark of $3.9 and were confident that the downward trend was over.
However, the sellers decided otherwise and lowered the price in less than two days by 40%. After such a fall, the EOS market froze for almost 2 weeks.
However, yesterday we saw a good signal. During another attempt by sellers to break the critical range of $2.42-2.5, we saw too low volumes. Compared to January 11, this situation looks like the capitulation of sellers and the transition of initiative in the EOS market to buyers.
Today we saw an aggressive attempt by buyers to form a new local trend. Fixing the EOS price above $2.93 will be the first signal to continue growth with a target of $3.9.
Another good signal was the situation on the EOSBTC chart: YES we see on the chart a strong downward trend. However, pay attention to the volumes that have finally appeared on the EOS market. In our opinion, a large buyer is actively buying EOS, while the situation allows it to do so at low prices. _______________________ We create both short-term ideas (for a local understanding of the market situation) and medium-term forecasts of price movements. Subscribe to us and get daily concise analytics!