Market Update

Insights for the Asian Crypto trading session Friday 25/01/19

  • BTC/USD: Bitcoin rallies continue to be capped, downside vulnerable

  • XRP/USD: Ripple holding support between $0.30-$0.32 cents

  • ETH/USD: Bears continue to sell rallies towards $120

  • BCH/USD:Rallies back above 100/200 hourly MA towards $130

  • EOS/USD: Bulls push price back towards $2.50 resistance

EOS Technical Analysis: Provides Range Trade Opportunities

  • Rallies 10% from recent range lows

  • EOS seen providing ange block trading opportunities for past two weeks between $2.30-$2.60

EOS/USD  Hourly chart

EOS 250119.JPG

Our forecast:

EOS/USD: Continues to provide the market with range trading opportunities seen over the past two weeks between range block highs around $2.60 and lows around $2.30. Whilst relatively uneventful within the range block, trading this range represents a 11% price movement from lows to highs and vice versa. With price providing a bullish signal moving back above the 100 and 200 hourly MA’s, and the MACD supportive trading above zero, a move towards recent range highs around $2.60 is expected. We recommend a short term buy on dips towards $2.4550 with a price target of $2.60, stops placed under $2.40. This represents an approximate 3-1 risk return potential.

Hourly Technical Analysis Summary: Strong Buy

Moving Averages: Strong Buy

Oscillators: Buy

 Support 1:               $2.4550

Support 2:               $2.4350

Resistance 1:               $2.5050

Resistance 2:          $2.5450


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