Today, the majority of cryptocurrencies bounced, with only 2 of 20 of the top coins in market cap dropping today - Tron and Railblocks.
Wanted to provide updates to a couple of coins I've been closely watching - BTS, EOS, and STEEM.
First off, quick update on Bitshares (BTS). Got a nice bounce off the previous ATH of $0.50, which also marks the top of the PATHWR. Looks like it's got some support from below.
The past 2 days touched the top range of the PATHWR and bounced on both days.
Posted yesterday about EOS entering the PATHWR zone and possibly being rejected at the ATH. Well, price touched the ATH yesterday and retraced below the low end of ATHWR. Today, EOS broke through the PATHWR and made new highs. The volume on today's breakout was the highest since the 'flash crash' on 12/22, but I would have liked to see a larger volume spike on the breakout. Because of the lackluster volume, I expect to see prices retrace back to the top range of the PATHWR.
Lastly an update on STEEM. Price action tested the lower bound of the PATHWR before exploding higher through the PATHWR. Volume was low, so I don't think we're out of the woods yet. Price should continue to test the PATHWR and there will be cause for concern if we breach the low end of PATHWR at $4.35.
I will continue to update especially if anything significant happens. Please comment below if you have any questions! Thanks for reading!
Disclaimer: This post is not meant to be a recommendation to buy or sell any financial instrument. Do not invest money you cannot afford to lose. Always do your own research.