Market Update

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Insights for the Asian Crypto trading session Wednesday 20/03/19

  • BTC/USD: Bitcoin trading in minor positive territory above $4,000

  • ETH/USD: Ethereum bulls contained by range $130-$144 for now

  • XRP/USD: Price action positive but still lacking momentum below $33 cents

  • LTC/USD:  Litecoin profit taking above $60, holds support at $58, outlook positive

  • EOS/USD: EOS approaching 200 day MA at $3.91, price action constructive for further gains

EOS/USD Technical Analysis: Price action constructive for a move towards $5.00

  • EOS/USD approaching 200 day MA at $3.91 with a close above signalling a move towards $5.00

  • Price action confined to rising trend channel with resistance seen towards $4.85 and support at $3.00

  • MACD positive and shows signs of a potential break higher in momentum

EOS/USD Daily chart

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Our Forecast

EOS/USD: On the daily chart, price action has continued to trade within the parameters of an upward sloping trend channel, with resistance seen towards $4.85 and rising support seen towards $3.00. Daily technical indicators are flashing strong buy signals from both the moving averages and oscillators, signalling a potential break higher is coming very soon. With the potential break of the 200 day MA at $3.91 providing a catalyst to watch out for. We recommend buying at current market $3.8050 with a stop loss at $2.95 at a take profit at $5.45. 

Daily Technical Analysis Summary: Strong Buy

Moving Averages: Strong Buy

Oscillators: Buy

Support 1:               $3.75

Support 2:               $3.73

Resistance 1:               $3.82

Resistance 2:          $3.90


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