EOS: December low at risk

  • Higher lows pattern broken down, consolidates for now.
  • Significant downside from here, bounces won’t last long.

EOS, the crypto that surprised everyone with its mammoth rally last year that resulted in prices rallying more than six times, is now at risk of breaching its December low after it broke off a key ascending trendline, drawn from higher lows from December trough.

EOS/USD up three cents of a percent at $2.461, not from from day high in a lower volatile Sunday trading. On the 360-minute chart of EOS, it broke down of a higher low ascending trendline pattern in a sign that the bounce from December low is over and it may head back to the lows and below, its just a matter of when, not if.

Solace can be found in the fact though, that there is another descending trendline support, currently placed at $2.13, but chances are slimmer of it to hold on.

EOS/USD 360-minute chart:


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