EOS Analysis and Forecast (Sep 27th, 2018): waiting for a signal at $5.4656

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In recent days, EOS has experienced a period of peace awaiting for a breakout to uptrend

After enjoying a slight recovery with the whole cryptocurrency market, EOS is retreating in the descending convergence triangle pattern. Currently, EOS is being traded at $5.39, declining by 3.4% compared to the opening price.

EOSUSD keeps moving in a narrow range and being caught under the resistance at $5.4656. The market is considering where to go without any leading fundamental factors.

EOS, MACD, Stochastic, uptrend, recovery, cryptocurrency
EOSUSD price chart H4 27092018

MACD is showing the upcoming cross of the MA12 and MA26 which implies a strong reversal momentum in the future. However, in order to confirm the trend, investors are highly recommended to watch price movement at $5.4656 level.

If EOS manages to close above this level within several one-hour candles, the uptrend will be established. As soon as EOS breaks through $5.8261 it will heading right away to the next target at $6.8449. Besides, Stochastic on chart H1 is lingering at oversold area and giving buying signal.

However, without any clear indicators and tendency, EOS is unpredictable and dangerous for day traders. It is suggest that investors should take some rest and look for further market guidelines.

EOS, MACD, Stochastic, uptrend, recovery, cryptocurrency
EOSUSD price chart H1 27092018

Written by nami.today

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