EOS/USD POSSIBLE PRICE BREAKOUT! TECHNICAL ANALYSIS

@EpicDesigns Technical Analysis Report 2/24/2018

Coin/Asset:
-EOS/USD:BITFINEX
Current Price:
-$7.79
Target Entry:
-$7.00-$7.70
Target Exit:
-$14.00+
Profit %:
-100%

Click Here to View the Chart

4hr Chart
EOS is closing in on a strong support line around the $7 mark, the last time we tested this price range we saw a 100% increase bringing the USD price of EOS over $14. Despite the downtrend, I think EOS could break out of the descending triangle that it is in right now at any moment.

If support is broken at the $7 range, the next likely direction would be filling in the tip of the descending triangle I have drawn in the chart above. This being said, we could test lower lows maybe as low as the $4 range. It might be a bit of a gamble at the moment trying to scoop some up but, I'd suggest setting stops in the low $7 range and make your moves according to the movement of the market. If you gotta buy back lower to recoup some losses, do it.

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