EOS/USDT: Bullish Breakout Analysis 1D (Jul. 29)

X Force Global Analysis:


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In this post, we analyze EOS' daily chart for its Tether (USDT) pair, assessing its bullish probabilities.

Analysis

- EOS has broken out of a descending wedge pattern
- After weeks of consolidation, it looks to create new highs for this year
- Using the length of the pole leading up to the consolidation, we could expect this breakout to lead a rally to the 1.618 Fibonacci retracement resistance

What We Believe

The daily setup looks extremely bullish for EOS , as confirmation has been provided from a breakout, leading prices to new highs through bullish rallies.

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