Cryptocurrency
by Seth Parker on September 25, 2018

EOS Analysis – Third triangle in a row

First instrument today, will be the EOS, which is definitely the biggest loser among the major cryptos. Currently, we are down almost 10% and it looks like this is just a start. Before going into details, let me show You what happened with our previous analysis, from the 8th of August, where we wrote this:

„The price is on the lowest levels since April and we are currently aiming the lows from March – around 4 USD. With the current momentum and the sentiment on the crypto market, we should get there really soon. „

eos chart

Few days later, the price was almost there. On the 14th of April, EOS found a support on the 4.3 USD and this is the place, where this crypto entered the sideways trend. This movement is happening till now and is locked inside of a symmetric triangle pattern (red lines). This is the third triangle in a row and this one promotes the further drop too. With this momentum, the price testing the lower line of this pattern is almost certain. I would go even further with this and I am seeing high chances for a breakout and EOS making new long-term lows. Sell signal is on!

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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