EOS broke the 21 MA line. That was a surprise when most of other cryptos turned red. Notice that bullish action was followed by large volume of selling. We will watch if the trend continues. Target H: 8 L:5.5
NOTES:
Theory:
Technical analysis employs models and trading rules based on price and volume transformations, such as the relative strength index, moving averages, regressions, inter-market and intra-market price correlations, business cycles, stock market cycles or, classically, through recognition of chart patterns.
In finance, technical analysis is an analysis methodology for forecasting the direction of prices through the study of past market data, primarily price and volume.
https://en.wikipedia.org/wiki/Technical_analysis
