EOS/USDT : Bullish Momentum in Sight Amidst Correction ?

30 Jul 2023

In this technical analysis, we delve into the EOS/USDT trading pair to identify potential opportunities for traders.

1. Correction/Resistance Area - 0.775 - 0.785:
Currently, EOS/USDT is encountering a significant correction/resistance area between 0.775 and 0.785. This range has historically posed challenges for the pair, limiting further upward movement.
Traders should closely monitor price action within this zone as it could offer valuable insights into the potential market direction.

2. Price Expectations - Buying Opportunity at 0.650:
Based on our analysis, we anticipate a corrective movement in EOS/USDT, leading the price to retrace towards the 0.650 level.
This retracement presents an attractive buying opportunity for those looking to build positions or add to their existing holdings.

3. Invalidation Point - 0.800 - 0.820 Breakout:
Traders must exercise caution and vigilance as the price approaches the 0.800 - 0.820 range. A sustained breakout above this level could indicate a significant shift in momentum, signaling a bullish trend for EOS/USDT.

plan your trade and trade your plan.