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EOSUSD Technical Analysis

Discussion in 'Expert Level' started by Arpit, Jul 10, 2018.

  1. Arpit

    Arpit Moderator Premium Member

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    We are currently looking at the 1H chart of the EOSUSD. We can clearly see that the price is cloself moving inside the Descending wedge. The strong Price Action is not letting the price to break the wedge.

    [​IMG]


    Two of the major Resistance:

    a)The falling wedge line which acts as a huge resistance.

    b)The 200 EMA. Don’t forget that it is the 200EMA of a 1D chart, so can’t be easily broken. Moreover, the wedge line and the 200EMA closely merge together. Hence, a strong BTCUSD breakout or some strong EOS fundamental can lead to this break.

    Complete analysis is available here
     
  2. Innate

    Innate Contributor

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    Great Information! Your step by step guide is appreciable.
     
    Arpit likes this.

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