EOS seems to be loosing on value constantly, but to tell the truth it's still in uptrend bullish channel.
It ended 1st cycle with big ABC correction, now it's ending the second one, or we are still in "A" wave. It matters not at the moment as wave "B" will be a bullish one, so the price will go up considerably.
On 4h chart EOS has 2 targets: 1 - strong cluster which was strong support by some time, 2- 70.80 Fibo lvl to which alts often are retracing.
If the right one of the "walls" of this "Falling Wedge" will be broken, it can be sign of more bullish movements, and I will update this chart.
In my analysis I'm using Fibonacci Levels, Elliott Wave principles, Support and Resistance lines, Candle Patterns and formations, like Head and Shoulders or Triangles (latter more often than the former).
DISCLAIMER
I’m not a certified financial advisor nor a certified financial analyst nor an economist nor an accountant nor a lawyer. The contents posted by me are for informational and entertainment purposes only. Don follow any analysis blindly, and make your own decisions. Always plan your trades and play with stop-loss.
If You like my charts, follow me on Twitter https://twitter.com/Woytech
or on TradingView https://www.tradingview.com/u/Voytech/