EOS: Short/Long priority

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EOS strings along with other cryptos in the recent widespread downfall.

* In contrast to major cryptos ( BTC , LTC, ETH), EOS doesn't have a significant reserve down from the current levels.
* EOS price action is well-defined within the descending trend channel with the next stop projected at $2.20 - $2.30 level.
* The price is located below 21 Daily EMA , failing to break it above the day before; hence, more downside looks possible.
* Both indicators, MACD & RSI , are signalling divergence on 1D chart, which would persist even in case of the latest round of a price fall to $2.20 - $2.30.
* Overall, we would consider two trades in a row: scalp Short from the current levels and then Long from the target area between $2.20 and $2.30.

1st order trade signal

Sell @$2.60 - $2.70.
Target: $2.20 - $2.30.
Stop-loss: $2.92.

2nd order trade signal

Buy $2.20 - $2.30.
Target: $3.70 - $3.80.
Stop-loss: $2.08.

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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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