The dominance of BTC began to fall, the price began to consolidate and try to correct. Taking the opportunity, the EOS market grew by almost 50% in 4 days. Most importantly, the prospect of continued growth in the price of EOSUSDT still remains.
If we look at the 3-day timeframe, we can see that high buyers attacked the liquid range of $5.4-5.9:
This range has been under the control of sellers since February 2020. Considering at which volumes the buyers attacked this liquid zone, their intentions are serious. For greater confidence, we will expect a retest of this range and a set of a new position in the form of consolidation.
If buyers manage to keep the price of EOS within this range, we will expect the continued growth of the EOS market to $8.5-8.6
Losing control over the range of $5.4-5.9 will diminish buyers' chances of continued growth, but will not completely cancel out. In this case, we will expect a price correction to $4.2-4.3:
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!