The current week has been full of ups and downs for EOS, and we’re all eyes on the cryptocurrency, waiting for the next turn. The golden cross didn’t play out positively, and EOS is going through a correction. When and how should it end? Check out EOS price predictions from TradingView users to find this out.
A downward correction is in process
EOS is clearly making a downward correction. However, things could be worse. If the price had broken out the corrective structure and closed below $6.0050, we would expect a continuation of the downward movement towards $5.370. That didn’t happen, so we should expect EOS to go higher.
Generally, weekly technicals are as follows:
The EOS price is in the ascending channel.
The price successfully surpasses the major support/resistance levels, which is the key aspect for the bullish period.
We should expect a correction on the bullish movement. It’s okay to see corrective structures and impulsive waves.
Based on the current price trends, we should expect bullish movement to $8.
Technicals & buying tips
The user ssari came up with an observation of EOS performance and key markers. The overall performance in price and pattern is significantly positive. It is also very symmetrical and continues to be so. Also, EOS gains over BTC (refer to the chart approx. 190% gain over USD and 80% gain over BTC at its peak) should be noted. Moving forward in this bullish trend, it makes sense to buy EOS and BTC at certain times.
Refer to the EOS\BTC pairing chart and these technicals:
In a channel as per the diagram and is now consolidating, downwards.
We have hit its highest point (end of wave 5). Refer to previous post results.
It's going down as like BTC, as it consolidates to the GREEN box, Buy Zone.
The fib circles are still playing their part nicely. Orange ring the support ring.
The red line is the 200 Daily EMA and is heading upwards towards the green zone, on the way confirming if it’s a good level to buy. 20 EMA on the daily is still acting support.
BTC dominance is to still drop more. Keep tabs on the EOS/BTC pairing chart and the BTC dominance chart in conjunction with the EOS Chart: it can help you maximize the holdings.
EOS has a little more to drop against BTC before it hits the support line for a reversal. Need to keep an eye on this, going long.
RSI on the daily > 55% and dropping, indicating by form, to the down side.
MACD on the daily > indicating to the down side.
Daily volume average > dropping.
If the correction plays out positively, we might see EOS hit the $8.2 target!
EOS is back to $5.70
The user Slope_Trading recently posted the EOS price chart showing us the golden cross to be finished. There were two scenarios: break above pitchfork slope, meaning we target previous highs on May 16, while a break below the trend would mean that the median line is a target.
The second scenario played out, but EOS doesn’t hurry to hit $5.70. Instead, it’s moving up and continues strengthening its positions slowly and steadily. Probably, it’s immune to the upcoming bearish wave.
EOS has all chances to reach $8 in the nearest days and weeks, so you can either buy it now or wait for a small correction and buy below $6. Yet, no one guarantees it can hit $8 if it falls further.
EOS price charts are taken from TradingView