Bottom Line: Watching for evidence the wave ii of (iii) correction ended.
Key Levels: Below 2.20, 2.26 Above 2.96, 3.54, 3.92, 5.48
Outlook: The wave ii of (iii) correction could have ended, but we want to see confirming upside price action to bolster the case.
Analysis: The most bullish comment we can make about EOS is that its 2.26 low has not been violated and it at least gave us some initial confirming price action for a low with the break above 2.54. Otherwise, the price action remains stalled. We still want to see EOS breaking above 2.74 and 2.96 to keep the case for a bottom at 2.26 intact.
Key Levels: Below 2.20, 2.26 Above 2.96, 3.54, 3.92, 5.48
Outlook: The wave ii of (iii) correction could have ended, but we want to see confirming upside price action to bolster the case.
Analysis: The most bullish comment we can make about EOS is that its 2.26 low has not been violated and it at least gave us some initial confirming price action for a low with the break above 2.54. Otherwise, the price action remains stalled. We still want to see EOS breaking above 2.74 and 2.96 to keep the case for a bottom at 2.26 intact.
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Note: Prices can vary between exchanges, and consequently there may be differences in our chart prices due to different data sets.
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Analysis:
As the upcoming trading week approaches we'll be focused on establishing the case for an end to EOS' weeks long correction with its recent low at 2.26. Levels we'll want to see breached as confirming price action lie at 2.74, and the most key at 2.96.