EOS,  Ethereum Classic, Neo Price Movement Analysis 2nd March, 2021

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EOS was traded on a descending channel, but an upward breakout was expected as trading volumes increased. ETC waited for a larger market recovery to crack through its overhead resistance range, and eventually Neo stared at the bullish turnaround when the indicators blinked green signals at the time of publication.


EOS started to travel within a descending channel on a 4-hour timeframe following a sequence of lows and lows. If there was a higher probability of a southbound escape from this trend, the trade volume pickup countered bearish forecasts. A climb above the upper trend line will present the next $4.14-resistance test for the bulls.

The Amazing Oscillator’s green bars shifted around the half-mark as momentum increased on the purchase side. The Stochastic RSI, however, pointed to a turnaround as the index was in the over-purchased zone. Although this does not actually mean a downward breakout from the channel, it may also operate towards a bullish result.

Ethereum Classic [ETC]

Source: ETC/USD, TradingView

Since the Bollinger Bands on Ethereum Classic were compressed, the market volatility remained minimal. RSI rested around the 50-mark and marginally favoured the sellers, but a sudden price hike was impossible in the next few sessions.

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The 24-hour trading volume ticked marginally and closed on the $1 billion threshold, but stronger signals were required to scale the immediate resistance to $12.5. A rally in the wider market could cause a northbound change in the ETC charts. Without the rally, ETC will continue to trade sideways and inside its current channel.



Source: NEO/USD, TradingView

The appearance of a doji candlestick on Neo’s daily chart showed some neutrality in the price that it kept above the $35.27 support. However, the indicators favoured the prospect of a rebound back to the $43.7 resistance mark.

The Stochastic RSI observed a bullish crossover in the oversold region, while the MACD’s histogram saw a diminished bearish momentum, even as the Signal line jumped above the fast-moving line. Conversely, a pullback in the larger market will see the bulls losing to the press time support range and threatening the next line of defence at $27.8.

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