Eos, along with most of the coins, have been dropping ever since Bitcoin broke below 9000.
Bitcoin is sitting around 8100, from a run to 8587 today. If it decides to break 8000 again, I can easily see most of the altcoins follow the drop as well.
There is some support surrounding 60000 sats, and if the price dips below this level, I am looking for a bottom at the next support level, 55267. The RSI should be oversold when this occurs, so there should be some sort of a double/triple bottom at this area.
For a confirmation of a bullish uptrend, I am looking for a run pass the 200 EMA, ideally around 75000-80000.
When talking about the fundamentals, in my opinion, Monero is one of my favorite privacy coins.
In terms of the technicals, its in the group of altcoins that are continuously dropping from ATHs.
The price is sitting at 2596000 sats currently and it has formed a double bottom at 2500000 sats. Breaking 2500000 would most likely send the price to 2390190, and the RSI should be oversold at this level so there is a high chance of a bounce if this occurs.
In order for the price to not drop to the next support level, I am looking for a break of the 2803877 resistance. This is also located near the two EMAs, and a break of these two is another confirmation of an upcoming uptrend.
Disclaimer: (I am not a financial advisor, do your own due diligence when investing in cryptocurrencies. This is just my speculative opinion.)
