350 Interactions, 2 today
EOS could push north of $8 after negotiating a minor dip towards $7.5. Similarly, Ethereum Classic was tipped to retrace towards $20 before the next upswing. Finally, Stacks was moving within a rising wedge, but the indicators were bullish at the time of writing.
EOS saw a breakout from an ascending triangle on the 4-hour timeline, peaking at the 127.2 percent Fibonacci extension mark of $8.01. As the price was rejected at the aforementioned stage, a couple of bearish candlesticks emerged. This also happened to coincide with the RSI reversing its course from the overbought sector. Stabilization at lower prices, likely at $7.5, will open the door to another market swing in the coming sessions.
According to the Awesome Oscillator, despite the southbound change, bullish momentum remained powerful. The frequency of 24-hour trading increased by 124%. In the event of a bullish result, the 161.8 percent Fibonacci extension was $8.6, and the 200 percent extension was $9.3.
Ethereum Classic [ETC]
A break out from a symmetrical triangle propelled Ethereum Classic over the $21 mark. Any sale occurred at the previously listed stage, but buyers were able to react at the $19.1-support. However, the market was traded on the upper band of the Bollinger Bands, and a small pullback could occur, causing the price to fall onto its Signal line. This will highlight the $20.4 sponsorship.
The MACD also showed a bearish divergence after it formed lower lows, and the histogram showed decreasing momentum. Following the pullback, ETC is likely to regain its northbound course.
On the 4-hour timeline, Stacks depicted an increasing wedge trend, and although this pattern typically sees a breakup, a bullish wider market brought some confusion to the mix. At the time of publication, the metrics indicated bullish strength in the market and supported a positive outcome.
The ADX was 35, indicating a strong trend for STX as the price made higher highs. The MACD still indicated a bull market when the index was over the half-line and a bearish crossover seemed to have been stopped. If this convergence occurs, the price which shift south and towards the support levels of $2.03 or $1.85.