Bullish on EOS

Looking at the weekly chart a trend reversal to the upside looks imminent for these reasons:

*EOS has broken out of the downward trend from the all time high shown in yellow
*MACD is close to having a bullish crossover.
*EOS has broken above the daily 100MA and 50MA. (100 in red, 50 in blue. Shows as 14 candles for the 100 and 7 candles for 50 since this is a weekly chart)
*EOS has never broken below the light green trend line at the bottom and is VERY strong support. If EOS has a major dip before the climb, it is highly unlikely to break this trend at the worst. ($2.80 if it goes strait down today)

I don't want to provide any upside target. I will personally be watching the weekly chart and hold until the trends I mentioned above turn bearish again.

I am not a professional or financial adviser. This is for educational purposes only and is not advise to buy or sell.

Kommentera:

The BTC crash has pushed down the EOS price, but it has pulled back up to the major support line. I am still holding my original position. These are the things I am watching:

Bullish-
Breakout above the 50 day EMA (Currently $3.11)
Breakout above the 100 day EMA (Currently $3.25)

Bearish-
Breakdown below the low on 11/25 of $2.35. This would be very bearish.