EOS/USD TECHNICAL ANALYSIS (29TH OCTOBER 2017)
Hi Traders/ Steemers!
EOS/USD has been on my radar for quite some time now, since in my opinion it is a token with massive potential.
Great management, well-thought ideals & goals, not to mention a new blockchain dubbed "the Ethereum Killer"!
All the hype and fundamental factors aside, we shall take a look into the technical analysis of the EOS/USD charts.
You might have noticed it's been going on a downtrend for quite a while now. However, recently, EOS/USD has been steadily gaining strength at the major support of $0.496.
A break of the descending triangle exhibits signs of a strong bullish/upwards trend, and also the cup formation curve support that is still intact!
All these bullish indicators are buy signals I believe, therefore I have set a Take Profit Target 1 (TP1) at $1.237, while a break of this level will launch it higher to TP2 at $2.037. That's a whopping 150% just at TP1!
In conclusion I foresee great things to come for EOS, and those of you who bought it since the onset of ICO should be glad that it is taking an upturn from here.
Best of luck and happy trading to all!
Disclaimer: This is my personal trading opinion, and not an investment advice. Please exercise due diligence and risk-management during trading. Cheers!
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