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. „
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!