Altcoins Talks - Cryptocurrency Forum

Learning & News => News related to Crypto => Topic started by: MRM on September 06, 2020, 04:10:11 PM

Title: EOS Risks Further Decline below $2.60 Support, Downtrend Likely
Post by: MRM on September 06, 2020, 04:10:11 PM

EOS is trading at $2.88 at the time of writing. There are indications that the crypto will further decline. Recently, buyers and sellers were having price tussle above the $2.60 support.

On September 1 uptrend, buyers were in control of price but were stopped at the $3.60 high. Consequently, sellers pushed back prices to $2.60 low.

The reaction of buyers made the price move up to $3.20 high. After price retested the $3.20 resistance, EOS began a downward move. This is an indication that the altcoin will further fall. The bottom line is that if the $2.60 support is broken, it becomes unavoidable to escape the downtrend. Nevertheless, the upside momentum is possible if buyers push prices above $3.20 high.
Source: https://coinidol.com/eos-risks-decline/

Title: Re: EOS Risks Further Decline below $2.60 Support, Downtrend Likely
Post by: highnayem34 on September 08, 2020, 01:50:19 PM

Since the coin is in the bearish trend zone, the chances of falling are possible. On the August 27 downtrend; the coin fell to $3.00 low and price retraced to $3.60 high. The retraced candle body tested the 50% Fibonacci retracement level. This gives us the clue that the coin will decline to 2.0 Fibonacci extension level or $1.80 low.