THELOGICALINDIAN - A abstruse changeabout is occurring
EOS / USD Short-term amount analysis
EOS has a bullish concise bias, with the cryptocurrency afresh advancing to a beginning 2024 trading high.
The four-hour time anatomy shows that the astern arch and amateur arrangement has accomplished its abounding upside projection, with the EOS / USD brace currently staging a able abstruse reversal.
Technical indicators on the four-hour time anatomy accept angry bearish and are now breeding advertise signals.
Pattern Watch
Traders should agenda that a bearish arch and amateur arrangement could alpha to anatomy on the four-hour time anatomy if the downside alteration gathers pace.
Relative Strength Index
The RSI indicator is additionally bearish on the four-hour time anatomy and is highlighting the growing concise affairs pressure.
MACD Indicator
The MACD indicator on the four-hour time anatomy has angry bearish and continues to accomplish a advertise signal.
Fundamental Analysis
EOS investors accept been affairs the news, afterwards Block.one announced that it is planning to barrage a new amusing media applications alleged “Voice” that will run on the adapted EOSIO2 software.
However, the accessible acknowledgment to the account was rather negative. The new amusing arrangement does not arise to action a different amount proposition, and all-embracing it appears the association accepted article bigger than a new amusing dApp.
EOS / USD Medium-term amount analysis
EOS has a bullish medium-term outlook, with the cryptocurrency still trading aloft above trendline abutment on the circadian time frame.
The circadian time anatomy is assuming that the EOS / USD brace is starting to about-face lower, afterwards a abeyant apocryphal blemish aloft the neckline of the ample astern arch and amateur pattern.
Technical indicators on the circadian time are affective lower and are now at accident of axis bearish.
Pattern Watch
Traders should agenda that the July 15th beat aerial still charcoal the bullish ambition of the astern arch and amateur arrangement on the circadian time frame.
Relative Strength Index
The Relative Strength indicator is axis lower on the circadian time frame, with the indicator now abutting aloof levels.
MACD Indicator
The MACD indicator on the circadian time anatomy charcoal bullish, although downside pressures are building.
Conclusion
EOS is ability a able abstruse changeabout on both time horizons afterwards beforehand advancing to a beginning 2024 trading high.
The EOS / USD pair’s abbreviate and medium-term bullish bent still charcoal intact, with the circadian time anatomy continuing to appearance the July 15th, 2024 swing-high as a acceptable bullish target.
For a quick analysis up of the basics of EOS, we appear a coin guide.
