Market Update

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Insights for the Asian Crypto trading session Wednesday 27/03/19

  • BTC/USD: Bitcoin stages a modest recovery, up 0.20%

  • ETH/USD: Ethereum desperate to find some stability

  • XRP/USD: Big trouble looms if $0.30 cents breaks

  • LTC/USD:  Technical structure still bullish despite downturn

  • EOS/USD: EOS pushes above $3.70, price structure positive

EOS/USD Technical Analysis: EOS on the verge of another breakout

  • Price closing in on 200 day MA at $3.80

  • MACD showing momentum about to turn positive

  • Moving Averages and Oscillators flashing buy signals

EOS/USD Daily chart

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Our Forecast

 EOS/USD: Despite being rejected above $4.00, trading as high as $4.39 on the 24th of Feb, and the subsequent sell-off that ensued, trading as low as $3.20 on the 4th of March, EOS has remained in a positive ascending trend channel for the entirety of this year with the rising resistance line of the channel towards $5.10 and the rising support line at $3.10. Price has been trading above the 100 Day MA since the 16th of February which is considered a bullish sign, and is currently challenging the 200 Day MA at $3.83.

Should price trade above the 200 Day MA and hold, when combined with a positive MACD and RSI, we believe that EOS will be poised to challenge the $4.00 area and beyond and as such maintain our earlier buy recommendation on EOS (see Market Update 20th March).

Daily Technical Analysis Summary: Buy

Moving Averages:  Buy

Oscillators: Neutral

Support 1:               $3.7100

Support 2:               $3.6850

Resistance 1:               $3.8050

Resistance 2:          $3.9100

The information contained on this web site is general in nature and does not take into account your personal situation. You should consider whether the information is appropriate to your needs, and where appropriate, seek professional advice from a financial adviser.