November has seen the overall trade volume of retail-focused crypto exchanges drop, while the trade volume of exchanges preferred by larger players has increased instead. After an extended decline, when retail activity drops and institutional activity picks up, a market bottom usually approaches.
Traders should wait for the confirmation of a bottom formation before attempting to buy the coin.
After trading inside a range for the past three days, the bears are attempting to break down of the support at $94 and resume the downtrend.
We suggest traders wait for the decline to stall and a buy setup to form before turning positive.
As there are no bullish setups, we suggest traders remain on the sidelines for a few more days.
We suggest traders either buy above the range, or if the overall sentiment improves, a trade can be attempted closer to the bottom of the range at $80.EOS/USDAfter a prolonged downtrend, EOS found some buying at the $1.55 level.
The short-term traders can stay on the long side of the trade if the price sustains above the downtrend line.
Though it is forming a positive divergence, traders should wait for the price to follow through to the upside, before buying it.
The RSI has also been trading close to the 40 levels since Nov. 29.
Traders should wait for the price to bottom out before buying it.
Bitcoin, Ripple, Ethereum, Stellar, Bitcoin Cash, Bitcoin SV, EOS, Litecoin, TRON, Cardano: Price Analysis, Dec. 10
Published on Dec 10, 2018
by Cointele | Published on Coinage
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