EOSUSD; Challenging resistance.
A great run in this coin, outperforming.
Market is hitting some better resistance however, the 16.13 level is where sellers came in on the 14th of januari. The big level is ofcourse the all time high around 18.65. Logically one would expect some further profittaking from here but everybody should be eyeing Fibonacci retracements;
The first more important one is seen at 12.25. Have to expect some renewed buying on dips toward there. A move there can be seen if market drops below first support at 13.75. With current momentum strong, a buy there is not unreasonable but notice the RSI indicator well into overbought territory.
So, could see come consolidative work where bulls may establish a floor around 12.25. 20.00 can be a reasonable target from there.
Market is hitting some better resistance however, the 16.13 level is where sellers came in on the 14th of januari. The big level is ofcourse the all time high around 18.65. Logically one would expect some further profittaking from here but everybody should be eyeing Fibonacci retracements;
The first more important one is seen at 12.25. Have to expect some renewed buying on dips toward there. A move there can be seen if market drops below first support at 13.75. With current momentum strong, a buy there is not unreasonable but notice the RSI indicator well into overbought territory.
So, could see come consolidative work where bulls may establish a floor around 12.25. 20.00 can be a reasonable target from there.
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