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EOS is faced with the strongest Resistance!!

COINBASE:EOSUSD   EOS/USD
Hi, Traders ! Monfex is at your service !

The Bears prevent EOS from rising above $3.40 - $3.50. Strongest Resistance!

* In the meanwhile, EOS remains the top crypto in the 14th Chinese updated Crypto Ranking published by the China's CCID Research Institute. The Ranking features 35 coins and gives each Blockchain project a separate score based on its technology, applicability, and creativity.
* Technically, EOS resides between the 21 Daily EMA on the underside and the strong Resistance from above = $3.40 - $3.50 level is hard to surmount.
* Under such conditions, the Bears could easily double down on the price prompting it to retest the ultimate (visible) Support at $2.70.
* In case the bearish pressure appears overwhelming, the price could be forced down to new minimums at $1.50 - $2.00, but such scenario doesn't look viable, as of now.
* For the time being, we are looking at yet another bullish attempt to break higher, and if it falls flat, we could try entering Short in anticipation of a $2.70 retest.

Pending trade signal

Sell @ $3.40.
Target: $2.70.
Stop-loss: $3.67.

Watch for our Updates to get real-time superior signals!

GOOD LUCK AND LOTS OF PROFITS !!

Disclaimer
This report is for information purposes only and should not be considered a solicitation to buy or sell any cryptocurrency or cryptocurrency product. Monfex accepts no responsibility for any consequences resulting from the use of this material. Any person acting on this trade idea does so entirely at their own risk.
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