EOS/USD Bullish Correction


Trading Ideas


EOS/USD Bullish Correction

The currency pair has added more than six percent in the past 24 hours. EOS/USD has started a correction on Thursday after reaching new weekly lows on Wednesday. However, buyers are still hesitating as the growth is very smooth.

Let’s have a closer look at what is going on the Hourly chart. EOS/USD has tested the support area at $9.31 on Wednesday, but failed to cross it and reversed upwards. EOS has jumped over $9.91 resistance are later. The currency pair stays in the middle of the next price range. The possible ways for EOS/USD are the following:
1. Red scenario ( bearish ). The currency pair will break through the closest support area at $9.91 and move lower, targeting the next support at $9.31.
2. Orange scenario (neutral). EOS/USD will stay within the current range, limited by the support area at $9.91 and the resistance at $10.54.
3. Green scenario ( bullish ). EOS will break through the resistance area at $10.54 and run higher, targeting the nest resistance at $11.41.

Check the full crypto analysis HERE>>>.

Continue reading...