After finding support at $12.00, the EOS/USD pair is trading at $13.50 at the time of this article. The anticipation surrounding the mainnet launch on June 2 has certainly played its role.
As you can see on the chart, the EOS/USD long positions have substantially increased during the establishment of the support at $12.00 initiating a bounce on the lower trend line of the Bollinger Bands. What matters the most as this point is to have the long positions to supersede the short ones.
I have opened a long position at $12.15 with a stop-loss order at $12.95 that I will update in the next few hours. My mid-term exit strategy is at $17.50, but the pair could quickly test the support line, especially if the BTC/USD pair takes another dive.
Remember that patience is the key here and it is always better to abstain from entering a trade than entering a trade where you lose money. 99% of my trades are limited to 1 or 2% profits. The remaining 1% follows the waves while always placing and updating stop-loss orders.
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Investing in cryptocoins or tokens is highly speculative and the market is largely unregulated. Anyone considering it should be prepared to lose their entire investment.
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