Insights for the Asian Crypto trading session Wednesday 13/02/19
BTC/USD: Bulls gaining momentum, $3,700 next resistance to be cleared
XRP/USD: Support seen at $0.3050, short term technicals remain positive
ETH/USD: Retains positive tone, resistance seen at $125
EOS/USD: Continues bull rally from $2.35, breaks $3.00 overnight
LTC/USD: Holds support above $40 after light profit taking
EOS/USD Technical Analysis: Approaching major resistance zone
EOS/USD trades above 100 day MA for the first time since Nov 2018
Price approaching major resistance zone between 100 Day MA at $2.98 and range block highs at $2.20
Weekly close above $2.20 area confirms move towards $4.30 underway
EOS/USD Daily chart
EOS/USD: EOS is changing hands at the time of writing at $2.9885, up over 33% from this time last Wednesday, reclaiming its 4th position by market cap overnight from Litecoin with its market cap reaching $2.66 billion. From a daily perspective, the MACD is positive and supporting the bullish price action, trading back above zero for the first time since mid January. Price is also trading above the 100 day MA at $2.9820 for the first time since November 2018 and once cleared could target the 200 day MA towards $4.3150. On the downside, support is close up at $2.97 and then $2.90.
From current levels we will await the weekly close to determine if there will be a breakout strategy in play or range trade opportunity with the key level to watch being a weekly close above $3.20 suggesting a breakout strategy targeting $4.30.
Daily Technical Analysis Summary: Buy
Moving Averages: Buy
Support 1: $2.9750
Support 2: $2.9050
Resistance 1: $2.9820
Resistance 2: $3.0650
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