Technical Analysis :
Regardless of this steady depreciation- EOS is down five percent in the last day alone, bulls should have reason to smile. Yes, EOS is yet to meet any of our trade conditions as laid out in prior EOS trade plans but as long as they move within this $2 range, buyers have a subtle upper hand.
It’s all about effort versus result scenario and when you notice that sellers are yet to reverse July 15 to 18 gains, we can safely interpret that prices are likely to find support at the lower limit of this trade range at $7.
The only way for cancellation is if there is a high volume, high range break below triggering sells and validating June 22 bear break out trade pattern.