EOS/USDT: A Bullish, Steady Uptrend 15m (Jul. 29)

X Force Global Analysis:


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In this analysis, we explore EOS' Tether (USDT) pair on the 15min chart to assess the bullish and bearish probabilities.

Analysis

- To begin with, we are currently trading within an ascending parallel channel
- Prices are creating higher lows and higher highs
- EOS shows a breakout, then a long phase of consolidation, leading to another breakout
- We are currently trading above the 20 Simple Moving Average (SMA) as support
- After reaching levels close to the upper channel resistance and correcting, we have tested the 0.5 Fibonacci retracement support and bounced off previous local high support.

What We Believe

We believe that EOS is another altcoin that shows signs of extreme bullishness with huge upside potential. However, it's important to take into consideration the fact that no real confirmation has been provided yet.

Let us know what you think in the comment section below


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