EOS, Basic Attention Token, Compound Price Movement Analysis for 5th June, 2021

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At press time, EOS was waiting for an upward price swing, although its movement was mostly dependent on a break over $7.12. Basic Attention Token was expected to remain below $1 in the short-to-medium term, whereas Compound may return to $331 if it broke through its press time support level.


After a breakout over $7.12 was thwarted by the market’s sellers, a dropping ADX and a reading of 14 signalling that EOS was entering a phase of consolidation. The Bollinger Bands corroborated the market’s minimal volatility, with the upper and lower bands ranging from $5.61 to $7.17. However, this upper limit proved to be a significant barrier for EOS, resulting in a 66 percent increase during the first week of May.

A breakthrough might have a similar result, however bulls would need to overcome numerous resistance zones along the way, the most significant of which are $8.87 and $9.8.

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Basic Attention Token [BAT]

Source: BAT/USD, TradingView

Despite breaking north of the key resistance line of $0.834 twice after the May 19 collapse, gains were confined to the $0.927-barrier. In fact, one might argue that a more dependable resistance line existed around $1.03 — a region that coincided with the 200-SMA (green). According to the Squeeze Momentum Indicator, with positive momentum on the wane, a gain over $1 is improbable in the next days without a larger market rise.

Instead, defensive lines at $0.67 and $0.560 would be the focus. The Supertrend Indicator indicated a sell at the present price, with a stop-loss of $0.968.


Compound [COMP]

Source: COMP/USD, TradingView

Compound’s losses over the previous 24 hours were small, at 1.7 percent, as the cryptocurrency kept the 50th slot on CoinMarketCap rankings, with a market valuation of slightly more than $2 billion. COMP tried to breach south of the $392-support on its 4-hour chart, indicating selling pressure. In the event of a breakdown, COMP might return to $331, where the inclusion of a demand zone would counteract a lengthy sell-off.

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The RSI has remained in the neutral zone for a few days, but it has gone below 40 as bears have taken control of the market. At the time of writing, the dotted market of the Parabolic SAR was above the candlesticks, indicating that a downtrend was in action.


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