Critical Resistance: $6.490
Key Resistance: $5.650
Key Support: $4.670
Critical Support: $3.872
This EOS market busted through a near-term dotted trend line to the upside, but with not a ton of momentum to back it up (yet). The Average Directional Index (ADX) line has slipped lower, but is still in a trend building zone. The green positive directional index line is creeping higher, which is a possibility for the bulls to come back into the market with buying interest this week to gain some footing for a nice run.
The $5.65 level is key resistance and the target to watch this week. A break above this level, with momentum to back it, should send the market straight to critical resistance at the red 50-day exponential moving average (EMA).
We recommend a light buy here. And more buying on a break of the 50-day EMA to the upside. Happy Trading!
More info at CryptoMarket360!
Key Resistance: $5.650
Key Support: $4.670
Critical Support: $3.872
This EOS market busted through a near-term dotted trend line to the upside, but with not a ton of momentum to back it up (yet). The Average Directional Index (ADX) line has slipped lower, but is still in a trend building zone. The green positive directional index line is creeping higher, which is a possibility for the bulls to come back into the market with buying interest this week to gain some footing for a nice run.
The $5.65 level is key resistance and the target to watch this week. A break above this level, with momentum to back it, should send the market straight to critical resistance at the red 50-day exponential moving average (EMA).
We recommend a light buy here. And more buying on a break of the 50-day EMA to the upside. Happy Trading!
More info at CryptoMarket360!