EOS Price Fighting with Resistance Again
Like many other coins EOS rose last week spiking through a resistance area only to close above it. Similar to what Ethereum did.
Eth did end up pushing through resistance to close higher. Is EOS about to do the same?
Break on through to the other side
Looking at the chart you can see for roughly the past 48 hours price has been pressing that $5.60 area.
Now if you look left to the price action you will see that resistance line isn't super clean. A lot of action above and below it, which is why I like to look at "areas" as opposed to exact price points.
However, the $5.60 are has been a key pivot points several times in the past and is acting as one now.
Since most coins have pushed higher I would be surprised if we don't see EOS break through and level up.
If that happens then eyes would be on the $6.25 and then $6.75 prices as those represent some small prior tops. After that though there is some serious real estate for price to make a run,
Obviously if it fails at $5.60 all of this is moot and we have to sweat a return to the bottom of the current range.
We shall see....
just like a coin toss game :) I guess I can get a few more if gets rejected to 3-4$ again
thx for the view on targets!
If EOS is able to get above resistance, it may drive a more substantial rally in altcoins given its link to the many projects being built on platforms and the broadness it is traded in exchanges around the world.
Posted using Partiko iOS
Very valid point sir!