If the bulls can scale the price above it, a move to $306.78 will be on the cards.
The relief rally might face resistance at the downtrend line and above it at the moving averages, located just below $113.96.If the bulls scale the price above the moving averages, a rally to $155.38 is possible.
The traders can initiate long positions on a close above the downtrend line with a stop below $77. The target objective is $155.38 but if the bulls struggle to push the price above $113.96, the positions can be closed.
If the bulls can scale the price above the moving averages, a rally to $7.6 and above it to $10 is possible.
Remaining 50% of the position can be added on a close above the 50-week SMA. Our bullish view will be invalidated if the pair turns around from the current levels and plummets below $3.30.EOS/USDBlock.
The company believes that the transition will "Remove the influence of speculative markets over resource pricing. Introducing a rental market with pricing based on overall resource utilization will make resource allocation more predictable and reliable for the community."
If the price again turns down from the downtrend line, the bears will attempt to sink the price below $2.5804.
We will turn positive after the price sustains above the downtrend line.
The bulls could not build up on the breakout as we had expected and the price again dipped back to $3.5621.
If the bulls can sustain the price above $4.4389, a rally to $6.9677 is likely.
Top-5 Cryptos This Week: BCH, BSV, ETC, EOS, ATOM
Published on Dec 29, 2019
by Cointele | Published on Coinage
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