Insights for the Asian Crypto trading session Friday 18/01/19
BTC/USD: Trading within well defined range block
XRP/USD: Ripple looking to escape triangle price pattern
ETH/USD: Holding support above $120
BCH/USD: Bulls add 1.5% overnight
EOS/USD: Gains 3% overnight, bulls look towards $2.60 resistance
EOS Technical Analysis: Bulls attempt to break out of range
EOS/USD gains 3% overnight
EOS trading at the top of the recent range block range
Break out in the short term towards $2.60 or will the range hold?
EOS/USD Hourly chart
EOS/USD: Since the drop last week on Thursday, the trend has been uneventful with the price remaining between the upper range limit at $2.5 and the support at $2.4, however after a 3% rally overnight EOS is now challenging the recent range highs at $2.50 with a confirmed break targeting $2.60-$2.70 resistance zone. With support confirmed by the MACD crossing back above zero on an hourly basis and trending higher, and price now trading above both the 30 and 50 hourly SMA’s dips towards $2.45/47 should be well supported targeting a move higher towards $2.60 in the short term with a move back below $2.40 negating this bullish view.
Hourly Technical Analysis Summary: Buy
Moving Averages: Strong Buy
Support 1: $2.5040
Support 2: $2.4750
Resistance 1: $2.5630
Resistance 2: $2.5890
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