Conclusion for today’s EOS technical analysis:
Price closing below ~2.79 implies more downside action in Eosio.
The 4 hour timeframe of Eosio (EOS USD) is investigated in this analysis covering over 3 months of price action from December 07, 2018 to current date. Previous analysis is provided here. The price swing starting from a price low of ~1.55 onwards is captured in this analysis using a bullish price channel (tentative).
The above strategy is considered less conservative compared to a breakout above the top of the current channel (at ~5.33) before initiating a long (buy) order(s).
On the other hand, upper boundary of the current channel can also be used to enter short or sell orders, with price breaking below 2.79 presenting a more conservative entry point for bearish position(s) than the former.
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