Today we have selected two tokens with high trading volume from the tokens listed on Binance for a brief analysis. They are EOS and INJ.
Like we mentioned in our weekly recap, after the dump in last week, many ALT tokens fell back to the year-lows. EOS even created a new lows. After consecutive red candles, volatility drops again. The price maintained in a narrow range for 5 days. Although the bears have weakened, the confidence of the bulls has been hit and there is no direct increase.
Conclusion: The high probability decline has not ended. Although both bulls and bears is weak at present, EOS maintains bearish on a large scale, so we draw this conclusion. We set resistance level at 0.622 and support level at 0.517. This support level is fragile and it is likely to be broken.
Disclaimer: Nothing in the script constitutes investment advice. The script objectively expounded the market situation and should not be construed as an offer to sell or an invitation to buy any cryptocurrencies.
Any decisions made based on the information contained in the script are your sole responsibility. Any investments made or to be made shall be with your independent analyses based on your financial situation and objectives.
Like we mentioned in our weekly recap, after the dump in last week, many ALT tokens fell back to the year-lows. EOS even created a new lows. After consecutive red candles, volatility drops again. The price maintained in a narrow range for 5 days. Although the bears have weakened, the confidence of the bulls has been hit and there is no direct increase.
Conclusion: The high probability decline has not ended. Although both bulls and bears is weak at present, EOS maintains bearish on a large scale, so we draw this conclusion. We set resistance level at 0.622 and support level at 0.517. This support level is fragile and it is likely to be broken.
Disclaimer: Nothing in the script constitutes investment advice. The script objectively expounded the market situation and should not be construed as an offer to sell or an invitation to buy any cryptocurrencies.
Any decisions made based on the information contained in the script are your sole responsibility. Any investments made or to be made shall be with your independent analyses based on your financial situation and objectives.
