EOS price analysis and forecast (June 28th): Sparkles on EOS price


The key level of $10.1381 is the next stop of the cryptocurrency price

A close scrutiny of chart D1 shows that the Elliott Decreasing Wave is still putting pressure on the EOS price and a temporary tick-up is in our forecast. Right after the cryptocurrency price reached the hard support line (also near the Fibonacci retracement level of 78.6%), a bullish candlestick appeared in the D1 chart, suggesting a bullish trend.  

EOSUSD H4 28062018

In chart H4, we observe the formation of falling wedges pattern after a sharp bearish trend. Also, the price has touched each of pattern’s sides twice, which affirms the establishment of the falling wedges pattern. Moreover, bullish divergence signal appears in the MACD indicator (Moving Average Convergence-Divergence), showing a weaker bearish momentum. We expect a bullish reverse after the EOS price can move away from the pattern, and the key level of $10.1381 is the next stop of the cryptocurrency price.

Written by nami.today