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EOS 4 hour timeframe analysis

The 4 hour time frame of Eosio is presented in this analysis.

EOSUSD

April 29, 2018 marks the origin of a bearish channel that terminated, with the current pattern identified as a symmetrical triangle that has been in place since August 13, 2018.

The latter chart pattern suggests a stalemate between the supply and demand for Eosio. A breakout to the downside implies a resumption of the current downtrend, while the triangle could also signal a change in the overall trend from bearish to sideways or uptrend at best.

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