EOSUSD 8/20/2021
מעודכן
Note: NOT A FINANCIAL ADVICE TO BUY/LONG OR SELL/SHORT
_____
Somebody requested for it. This is it.
By the way, if you have fundamental reason for the massive pump, please share it in the comment section. Thanks.
_____
Technical Analysis
EOS is the one of the top 10 coins from 2018 to 2019. Seems like, I feel still 2019 (Joke!). What I mean is that the price action is lagging behind while the other coins like BTC, ADA, ETH, DOGE & Other coins is broke their previous ATH in 2018 and 2017 because of fundamentals, news and social media sentiment. I forgot to mention BCH, XRP, XLM and DASH not yet tested the previous ATH – similar to EOS. Unfortunately for LTC and NEO tested the ATH but failed. As to fundamentals, I’m still searching for a potential catalyst to have massive pump for this coin (EOS) – That’s the key. But for now, I will just share with you the potential direction 3 years from now – Honestly, too long but I hope you found it reasonable based on Elliot Wave perspective. Many Institutions already have EOS as one of their portfolio. Maybe I reconsider also this to be included again – I do make some gains but not so great. But, I notice two things on EOS: (1) When it starts to pump, it pumps hard – also with dumping; and (2) Always late to pump as other coins is pumping. In short, it’s quick. I think this coin is good for someone who is late in a bull run. Joke!
Elliot Wave
There is a great potential that EOS is now starting a prolong Wave 3. To be exact: (1) It just finished Wave 1 of Wave 3; and (2) For Wave 2 of Wave 3 still need more confirmation as to ABC Correction was completed. If ABC Correction is completed, it must break the top of Wave 1 of Wave 3 at $ 14.867 and that blue trend line in the chart. But if it failed, the rally is just a B wave rally for ABC Correction. In case of a potential C Wave of Wave 2 of Wave 3, I think the Green Trend Line must hold as a strong support to still validate the bullish scenario for the longer term. But if you check the Monthly, Weekly and Daily Timeframe – something is interesting. Please check those charts below. Three years for Wave 3 might be too long for you but it’s just an estimated date on when it reaches target price. As I stated in the paragraph above, it can make a quick and massive pump in short period of time. When it reaches the target, a quick and massive dump after. To be clear, I’m not saying EOS is a pump and dump coins. Just see in the chart on how the price behaves in each waves throughout the years – That’s it. Technically from Elliot Wave perspective, the larger Wave 3 had just started.
Monthly
In the chart, the price struggle to hold above EMA 9 (Green) in the past years but right now it’s holding above EMA 9 and EMA 21 (Green). RSI is finally making a direction after being undecided for how many years. Bullish Convergence on RSI, MACD and Stoch RSI. There is a high probability of a start of bull market on Monthly timeframe. EOS indeed late.
Weekly
In the beginning of 2021, the price of EOS finally holds above all moving averages (Too late right? HAHA). Right now, moving averages is aligning for a potential bull market in the next months and years to come. There is bullish divergence on RSI, MACD and Stoch RSI. Resistance is currently at $ 5.99 and $ 7.2344 (Strong resistance to be broken). MACD may make a bullish crossover this week or next week. RSI must continue to hold above 50 Level. Also, there is a bullish crossover on Stoch RSI.
Daily
As you see in the chart, even though it looks bullish in the past price action but the fast moving averages like EMA 9 (Green), EMA 21 (Violet) and EMA 34 (Dark Orange) is not holding much as support. Price most likely hold at EMA 55, SMMA 60 and MA 50. I think it’s a weakness in the trend but I’m hoping Wave 3 to be different – something strong. There is a bullish convergence and bullish divergence on RSI, MACD and Stoch RSI. Those red boxes may act as resistance. If unable to break 61.80% Fibonacci at $ 8.11, Maybe it’s a B Wave rally as I stated in Elliot Wave.
4HR
In the Chart.
1HR
In the Chart.
________
Note: NOT A FINANCIAL ADVICE TO BUY/LONG OR SELL/SHORT
_____
Somebody requested for it. This is it.
By the way, if you have fundamental reason for the massive pump, please share it in the comment section. Thanks.
_____
Technical Analysis
EOS is the one of the top 10 coins from 2018 to 2019. Seems like, I feel still 2019 (Joke!). What I mean is that the price action is lagging behind while the other coins like BTC, ADA, ETH, DOGE & Other coins is broke their previous ATH in 2018 and 2017 because of fundamentals, news and social media sentiment. I forgot to mention BCH, XRP, XLM and DASH not yet tested the previous ATH – similar to EOS. Unfortunately for LTC and NEO tested the ATH but failed. As to fundamentals, I’m still searching for a potential catalyst to have massive pump for this coin (EOS) – That’s the key. But for now, I will just share with you the potential direction 3 years from now – Honestly, too long but I hope you found it reasonable based on Elliot Wave perspective. Many Institutions already have EOS as one of their portfolio. Maybe I reconsider also this to be included again – I do make some gains but not so great. But, I notice two things on EOS: (1) When it starts to pump, it pumps hard – also with dumping; and (2) Always late to pump as other coins is pumping. In short, it’s quick. I think this coin is good for someone who is late in a bull run. Joke!
Elliot Wave
There is a great potential that EOS is now starting a prolong Wave 3. To be exact: (1) It just finished Wave 1 of Wave 3; and (2) For Wave 2 of Wave 3 still need more confirmation as to ABC Correction was completed. If ABC Correction is completed, it must break the top of Wave 1 of Wave 3 at $ 14.867 and that blue trend line in the chart. But if it failed, the rally is just a B wave rally for ABC Correction. In case of a potential C Wave of Wave 2 of Wave 3, I think the Green Trend Line must hold as a strong support to still validate the bullish scenario for the longer term. But if you check the Monthly, Weekly and Daily Timeframe – something is interesting. Please check those charts below. Three years for Wave 3 might be too long for you but it’s just an estimated date on when it reaches target price. As I stated in the paragraph above, it can make a quick and massive pump in short period of time. When it reaches the target, a quick and massive dump after. To be clear, I’m not saying EOS is a pump and dump coins. Just see in the chart on how the price behaves in each waves throughout the years – That’s it. Technically from Elliot Wave perspective, the larger Wave 3 had just started.
Monthly
In the chart, the price struggle to hold above EMA 9 (Green) in the past years but right now it’s holding above EMA 9 and EMA 21 (Green). RSI is finally making a direction after being undecided for how many years. Bullish Convergence on RSI, MACD and Stoch RSI. There is a high probability of a start of bull market on Monthly timeframe. EOS indeed late.
Weekly
In the beginning of 2021, the price of EOS finally holds above all moving averages (Too late right? HAHA). Right now, moving averages is aligning for a potential bull market in the next months and years to come. There is bullish divergence on RSI, MACD and Stoch RSI. Resistance is currently at $ 5.99 and $ 7.2344 (Strong resistance to be broken). MACD may make a bullish crossover this week or next week. RSI must continue to hold above 50 Level. Also, there is a bullish crossover on Stoch RSI.
Daily
As you see in the chart, even though it looks bullish in the past price action but the fast moving averages like EMA 9 (Green), EMA 21 (Violet) and EMA 34 (Dark Orange) is not holding much as support. Price most likely hold at EMA 55, SMMA 60 and MA 50. I think it’s a weakness in the trend but I’m hoping Wave 3 to be different – something strong. There is a bullish convergence and bullish divergence on RSI, MACD and Stoch RSI. Those red boxes may act as resistance. If unable to break 61.80% Fibonacci at $ 8.11, Maybe it’s a B Wave rally as I stated in Elliot Wave.
4HR
In the Chart.
1HR
In the Chart.
________
Note: NOT A FINANCIAL ADVICE TO BUY/LONG OR SELL/SHORT
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