EOS was overwhelmingly bullish on the price charts, with EOS poised to climb back over $5 again. Cosmos saw its recent momentum come to an abrupt halt, while Dash formed a bullish pattern on its four-hour charts.
Using two sets of retracement levels to move ATOM up to $19, it can be seen that the 27 per cent and 62 per cent extension levels have proved useful in demarcating supply and demand areas. The $25-$26 region was one of supplies at the time of writing.
In the short term, the Awesome Oscillator showed a neutral momentum in the ATOM market, even as trading volumes decreased. The price was lower, signalling a short phase of consolidation and possibly even a pullback.
A $26.4 breakout, as well as a $22 retest, would also offer ATOM’s buying opportunities. Since momentum is still strongly in favour of bulls in the long run, a breakout of $26 in the past is likely.
Dash has made huge gains over the last few weeks. In the short term, the coin formed an ascending triangle pattern on the charts. Usually, this pattern sees a bullish breakout. Closing under the pattern would invalidate a move to the north, and would likely point to a retracement.
The MACD formed a series of lower altitudes to underscore the exaggerated divergence of the Bear. Moving below $240-$250 would be a blow to the bulls of the market.
The Visible Range Volume Profile showed that trading activity has been most noticeable at $260 over the last few days, and losing this region would see DASH drop to $220.
The highlighted area of around $4.4 has served as a region of demand for EOS in the past. In recent trading sessions, the RSI has risen back over 50 to further underscore the bullish momentum.
This showed that EOS was once again poised to climb above $5 and target the previous high at $5.5. The failure of the market bears to force the price under the demand region is a sign of bullish strength, and the levels of $5.5 and $6 above are likely to be targets for EOS over the next few days.
90 Interactions, 4 today