EOS has been trading in a very narrow price range for the last week but that is probably about to change very soon. Lets have a look at the 4 hour chart:
Comment: As you can see, the bollinger band has really narrowed and that usually ends up in a major price move. So, the question is, in what direction?
Well, since EOS has been very week against Bitcoin lately , chances are that the price will move north. It is way oversold. Also, Bitcoin is right now in a temporal downward trajectory, lets have a look at the 4 hour chart for Bitcoin:
Comment: If you look at the circled moving average within the bollinger band, you can see that it is already falling. That is why I think Bitcoin will fall more from here.
Therefore, EOS is more likely to move higher from here and the move will probably happen within the next 24 hours.
Happy trading!
