EOS - 6h. Investors need to be careful in the range of $4.8-5

24 mar 2021

4 days ago, the EOSUSDT price reached the target of our previous idea. After reviewing this coin again, we decided to make a new idea with the following growth target for the EOS market:

By shooting 25% in almost 20 days, buyers showed that they are ready to keep the price within the local white channel. There have been no aggressive seller attacks in the EOS market since February 23rd. This can be seen both by candlesticks and by trading volumes. However, not everything is as pleasant as it might seem at first glance.

The current channel of growth in the price of EOSUSD is more like a corrective wave before a new impulse to fall. The rather sluggish growth on low volumes signals that buyers need to be careful in the range of $4.8-5. It is from this range that, in our opinion, a new wave of decline in the EOS market may begin. However, we will write about this in more detail after testing this range.

The current local upward trend will be threatened if buyers lose control of the range of $3.9-4. However, a test of this range will not override the scenario of continued growth in the price of EOS to the zone of $4.8-5.

Given that BTC buyers were able to hold on to $54,000, the likelihood of EOS growth lengthening is high. At the moment, this is our main scenario.

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We create both short-term ideas (for a local understanding of the market situation) and medium-term forecasts of price movements.
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