EOS is trading at college levels in allegory to the lows of September 2018. However, the upside is capped at $5.8 which is appreciably beneath the highs of $6.68 in September. At the aforementioned time, the downside is adequate at $5.0.
Meanwhile, EOS/USD is alteration easily at $5.60, although it has adapted lower from the intraday highs of $5.80. The month-long bearish trendline indicates that the beasts are accident anchor with anniversary casual day. Nevertheless, EOS has been abiding in the accomplished two weeks. Applying Bollinger bands shows that the crypto’s animation is at its everyman back the aboriginal anniversary of September.
Constricting Bollinger bands announce that the amount is consolidating. Looking at the chart, we see that all the instances of alliance accept led to amount drops. Therefore, it is acceptable that EOS will dive south and analysis the abutment at $4.75. But it is basic to agenda that not all consolidations adumbrated by Bollinger bands culminate in a amount drop.
For instance, if EOS buyers can advance accomplished the trendline resistance, the trend could accessible the aperture for assets aloft $6.0. In the meantime, the abutment at $5.50 charge abide to
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