Market Update

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 180119.JPG

Our forecast:

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

Oscillators: Sell

Support 1:              $2.5040

Support 2:              $2.4750

Resistance 1:           $2.5630

Resistance 2:          $2.5890

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