#EOS is another #altcoin, after the #ONT, whose price trend suggests a possible bullish break in the short term.
EOS has recently moved to 5th place for MarketCap surpassing #LTC. Even the trade volume of the last 24 hours, about 6 million according to CoinMarketCap , appears to be considerable.
In image 1 we can see the current trend of EOS / BTC prices on timeframe 4h:
Image 1 : Tradingview – EOS / BTC – 2018-04-23 – continuation triangle
What you can see is a continuation triangle which therefore suggests a bullish trend. This pattern is almost complete, to suggest the fact that prices are rebounded only on the upper line that acts as a resistance. Even the volume seems to be on the rise.
Switching to oscillators / indexes, we have:
- the RSI that is still not oversold, thus still allowing us a margin of price increase;
- The ADX and DI suggest an uptrend, whose strength is well established.
This analysis ultimately suggests a long position at least in the short term.But we need to follow the price further to make sure that these hypotheses really materialize.