EOS Profit Taking At This Level?
EOS has gone up very nicely for the past week but we have now reached an important resistance level. Here is the daily chart going back to August of 2017:
Comment: We are right now at 108000 Satoshi and if you look at the black horizontal line you can see that the resistance is right at this price level in the beginning of August.
Now, this is only a good idea if you have been trading EOS up until today. If you are invested in EOS it would NOT be a good idea to sell now. It could easily continue to go up even more, but if you are looking at EOS for a short term trade, this could be good timing.
Happy trading!
Here are 2 reasons why thinks could be going up further: https://steemit.com/eosio/@dan/eos-io-development-update
https://steemit.com/eos/@vimukthi/upcoming-airdrop-for-eos-iq-token-everipedia-and-lunyr-and-the-best-way-to-evaluate-a-general-purpose-smart-contract-platform
Current EOS volume is 3.2 billion The downward pressure from ICO isn't big at this point as 600+ millions of tokens are already circulating. So I'll wait for somewhere around $20
If I werent heavily invested in other coins, I would have invested in EOS, it does have great potential.
But trading wise, it wouldnt surprise me if it will take a breather in this area for a short period of time.
Cypto market is very irrational. The inferior DPoS Cardano became a massive success with practically nothing being developed on it and the seniment seems like it could double in the next 2 months. Any stupidity can occur in this market. EOS isn't marketing itself aggressively. When the blockchain release, the price will skyrocket. Until then I won't be surprised to even even see a massive dip.
I like all of your posts good and more
Basically, at the moment, the big players are not buying or selling in huge quantity. Volume slowly decreases untill we hit the final wave of this contraction. @freeforever
Very good post @freeforever, talking about my traffic is very confused. So far I learned about traffic until now I have not understood. This EOS is included in the steemit application and where we use this EOS. thank you