EOSUSDT , POTENTIAL UPTREND REVERSAL Hello Traders :)
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- EOS on 1D time frame chart is trading inside a falling wedge since starting September 2021 making lowers lows and lower highs , sellers are still in control and buyers are getting ready to defend there strong support zone ( demand
zone ) 2.3$-2.5$ , buyers meanwhile failed to break on the non-horizontal local resistance around 2.9$ taking price lower to the intended support zone.
- On 4H time frame chart we can see that EOS was trading inside a falling wedge ( continuation pattern ) and took the price lower to the strong support zone mentioned earlier.
- Buyers will gear up on the strong support zone 2.3$-2.5$ hoping to see a good amount of buying volume in order to take the price high to level resistance 2.9$ ( last swing low ), if succeed buyers will keep on moving up to the strong non-horizontal resistance around 3.6$ , would like too see a great breakout ( our trigger ) off the falling wedge which will take price higher to level targets of 5$ and 7$ respectively.
- Until now we are still bearish waiting to see the buyers reaction while the market sentiment is suggesting fear and due to BTC volatility.
Good Luck Traders!
