Technical Analysis
EOS finished the weekend down from its highs in the $18 range after the breakout from special announcements. It has been re-tracing since then finding support around the high $12’s. Currently we are sitting at just over $14 as of 9:20 am CST.
This is healthy movement and is in the range of the continuing uptrend. Keep an eye on the $12 level. If it fails to support we may be back in the $10 range and it manages to get over that red-line at any point we might see another jump higher.
Short term view - I like the bullishness here although could go either way
Edit - I will be doing an update almost everyday and as such will be giving away some litecoin to a random user who upvotes my post. Once you upvote - put your ltc address in the comment section. My way of saying thanks and hopefully we can continue to grow the EOS ecosystem.
UPcoin registrations link - new exchange (not yet released) offering a credit in trading fees for help with a survey
Solid work
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It also can drop till 3.1. For your TA I would wait 2 maybe 3 test of your green support line.
If this fails, then it is possible to drop til 3.1/3.2 or something like that. But hey: Who knows that?! ;-) It's Crypto. So play with the circumstances.
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You are right, the only reason I don't think that will happen is because it just happened not long ago. Confidence in the project is higher now and people saw how quickly it snapped back up.
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Yeah, if you look at EOSETH: it looks like a cup 'n handle. So maybe it will go your way. If it so, then KABOOM
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