EOS Technical Analysis: Lower Demand Zone Hit

Yesterday I warned a larger move was coming. All the signs were there...reaching the wedges apex, EMA’s and MA’s converging, Bollinger bands bottlenecking, etc. Within 8 hours of posting yesterday’s update, price collapsed. It’s now reached the lower demand zone between $5.60-$5.10.

Looking at the 4 hour and 1 day RSI and Stock RSI, we can see they’re both oversold. This suggests a rise in price is likely in the short term. However, without any positive news, I don’t believe a sustainable uptrend is likely.

In today’s video update, I discuss where price may go from here, major support/resistance zones and MUCH more. If you’re not watching my videos, you’re only getting a small part of the story.

Video Analysis:

If you’re viewing this on a site other than Steemit, and you don’t see the above video, navigate to Steemit or https://mentormarket.io/profile/@workin2005?aff_id=Workin2005 in order to watch.

BIAS:

Short Term: Neutral
Longterm: Bullish

I hope this has been helpful. I’d be happy to answer any questions in the comment section below. Until next time, wishing you safe and profitable trading!

Workin

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by Workin2005

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