Courtesy of DudeWitGun, YouTube channel.
After looking at the current EOS chart, BOING!!! sums up my basic conclusion for the launch of the EOS network on June 1st.
Additionally, if you did not already know, Goldman-Sachs is set to open their Crypto-Trading Desk on May 14th, 2018. Many believe this is just the beginning of "big money" coming into the cryptosphere. Goldman-Sachs is one of the largest investment banks on Wall Street and, where they go, others follow.
I apologize for my "busy" 1-day chart, but there are a lot of interesting data points included.
Volume (Orange Line) was very good for a while, and has been showing a slow "petering out" for the last week. This sort of a pattern in the volume could be signalling a breakout is about to occur - and it's my tendency to interpret this slow-down as "gathering energy."
Consolidation (Orange Box) in a sideways movement continues, without dropping out. Perhaps even more of a signal to indicate "gathering energy."
Price action continues well above the 200 & 50 DMAs (blue and yellow lines). Also, these two MA's are beginning to diverge, to the upside - perhaps another indicator of "gathering energy."
Stochastic RSI, Fast (3,3,14,14) is signaling "oversold," despite the fact EOS is near all-time high levels. Perhaps, yet another indicator of "gathering energy."
It looks highly probable, to me, that EOS is setting itself up well for a bullish spike. No doubt, many of the original ICO investors will be taking profits if/when that happens. Expect a good drop in price, right after the breakout, followed by a return to a more "normal level." It will be very interesting to see where the EOS coin ends up at a more stable price.
IDK where that will be - I really have no idea. Will it be $8 or $80 ??? Please share any thoughts you have regarding where you think EOS price will be at, soon after their blockchain launches.
Hold fast for the June 1st launch. I believe it is about to release a lot of energy to the upside. BOING!
DISCLAIMER: I am not a financial advisor. Anything in the above content is meant for educational/entertainment purposes only. Do not make trades based on this article. I am not responsible for any financial gains or losses you make in regards to this information.
Join CoinBase to Trade Cryptos
