EOS Daily Analysis– 13/11/18

Key Highlights

  • EOS gained 1.13% on Sunday, following a 0.44% rise in Saturday, to end the day at $5.4910.
  • EOS fell through the first major support level at $5.397 and second major support level at $5.3641 to an early afternoon intraday low $5.2920.
  • A late rally saw EOS break through the first major resistance level at $5.4658 and second major resistance level at $5.5017 to hit an intraday high $5.5221.
  • The week’s loss reaffirmed the extended bearish trend formed at the end of April’s swing hi $23.029.

EOS Price Support

EOS gained 1.13% on Sunday, following on from a 0.44% rise on Saturday, to end the week down 0.44% at $5.491.

Bearish through the first half of the day, EOS slid from a start of a day $5.4299 to an early afternoon intraday low $5.2920, the reversal seeing EOS fall through the first major support level at $5.3970 and second major support level at $5.3641 to call on support at the third major support level at $5.2953 before steadying.

A late in the day broad-based cryptomarket rally drove EOS through the day’s first major resistance level at $5.4658 and second major resistance level at $5.5017 to an intraday high $5.5221 before easing back to $5.4 levels by the day’s end.

In spite of the week’s gains, the extended bearish trend formed at late April’s swing hi $23.029 remained firmly intact, with EOS continuing to fall short of the 23.6% FIB Retracement Level of $8.6267.

At the time of writing, EOS was down 1.68% to $5.399, with Sunday’s late in the day rally hitting reverse in the early hours, EOS falling from a start of a day morning high $5.5245 to a late morning low $5.3957, the moves through the morning leaving the day’s major support and resistance levels left untested.

For the day ahead, a move back through to $5.435 by the early afternoon would support a run at the first major resistance level at $5.5781 to bring $5.6 levels into play, though with negative sentiment weighing on the broader market ahead of Thursday’s Bitcoin Cash hard fork, a run at the morning high $5.5245 may be as good as it gets for EOS in any 2nd half of a day recovery.

Failure to move back through to $5.435 by the early afternoon could see EOS come under greater pressure later in the day, with a pullback through the day’s first major support level at $5.348 likely to see EOS call on support at the second major support level at $5.2049 before any recovery.

EOS Daily Chart
EOS Daily Chart

Looking at the Technical Indicators

  • Major Support Level: $5.3480
  • Major Resistance Level: $5.5781
  • Fib 23.6% Retracement Level: $8.6267
  • Fib 38% Retracement Level: $11.3790
  • Fib 62% Retracement Level: $16.8280

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