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by Seth Parker on March 16th, 2018

EOS Analysis – Can we go below zero?

Today we start with the analysis of the EOS, which is climbing higher and higher on the list of the alt coins in terms of the market cap. Creators of this coin can be happy with that but the current price of the EOS can be rather depressing.

Currently, EOS has a beautiful bearish pattern on the chart: Head and Shoulders formation. The pattern is active as we already broke the horizontal support on the 7 USD (upper blue). Technically, potential target is below zero. We all know it is not possible…but still, shows us the big picture here and how huge is the negative sentiment from the technical point of view.

EOS Analysis Chart

Currently, we are on a support on the 4.8 USD. This is the last chance for the buyers to keep the EOS dream alive. Once this area will be broken, the next target will be…zero. Negative sentiment stays here as long as the price is below the neckline (7USD). Comeback above that area will be a positive signal and an invitation to start the buying festival again.

By Seth Parker

Seth is a professional trader with over 10 years of experience. He specializes in the technical analysis. His main focus is on the pure Price Action. In his trading, Seth used the trends, supports and resistances and technical formations. Always, the most important thing in his strategy is the money management. Seth reached a proficiency in trading and for the past three years is doing that for a living enjoying the sun and lovely beaches of the Spanish coast.

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