Update On EOS
EOS/USD Daily Chart
EOS began the year with a substantial bullish movement, finally breaking the 200 day MA (grey) resistance level and is now correcting. The 200 day MA turned to be our support, which is good news for the bulls. We're currently holding the 0.236 Fibonacci retracement, but the MACD-Histogram is abruptly decreasing and the volume dropping, indicating that the bulls lost the momentum and most probably we'll revisit the 200 day MA. It is of great importance to see if this 200 MA will continue to act as support.
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EOS/BTC Weekly Chart
From a general perspective, EOS lost a lot of sats value - but things can turn around very fast in this market. In the last 6 months we have encountered a great resistance level at 40000 sats, but in the second week of 2020 we managed to break this barrier. EOS is now finding support at this 40000 sats level (previous resistance turning into support), which aligns with the weekly 21 EMA (yellow) and the 0.382 Fib level. In the coming period we might have a sideways movement - the MACD and RSI don't indicate much for the bulls, nor for the bears.