Based on the 3-day chart, EOS reached the 61.8 and 65 percent Fibonacci retracement level, which is considered the 'golden' retracement area.
As a result, the Bollinger bands on the 1-day chart may clarify if EOS is bound for a rebound or to continue declining.
A break below $4.0 could signal a trend reversal from bullish to bearish and EOS could fall to the 78.6 percent Fibonacci retracement level or lower.
Even though Stellar has taken a major step back, the TD sequential indicator is giving a buy signal in the form of a red nine on the 1-week chart.
The TD sequential indicator on the 1-week chart is currently giving a sell signal in the form of green nine.
The bearish signal will be validated if there is a red two candlestick trading below a preceding red one candlestick.
Since the current candlestick is a green nine, per the TD sequential indicator, when combined with the spinning top candlestick pattern the probabilities of a correction increases.
As a result, Tezos could find support on its way down around the 38.2 or 50 percent Fibonacci retracement levels, which are sitting at $1.27 and $1.09, respectively.
A move above the recent high of $1.64, in combination with a green two candlestick trading above a preceding green one candlestick on the 1-week chart, could invalidate the bearish posture.
While EOS continues its consolidation phase that started nearly a month ago without any clear signs of which direction it will take, Stellar is leaning bullish, and Tezos is signaling that a retracement is in the works.
EOS, Stellar, and Tezos giving mixed price action signals
gepubliceerd op Aug 7, 2019
by Cryptoslate | gepubliceerd op Coinage
Coinage
Vermeld in dit artikel
Recent nieuws
Alles zien
Blockchain Bites: Bitcoin's Run, Uniswap's Hemorrhaging Value, Anchorage's Banking Bid
Bitcoin is nearing all-time highs in price and market cap last set three years ago.
Japan's megabanks to lead experiment with digital yen
We have, in order, Cheese Bank with a $3.3 million theft, Akropolis with its $2 million loss, Value DeFi with a whopping $6 million exploit and finally Origin Protocol's loss of $7 million.
Number of new Bitcoin addresses spikes amid growing FOMO
Japan's three largest banks, as part of a group of 30 private sector actors, are set to collaborate on an experiment with a digital yen.
Not just Wall Street: Quant trader explains why Bitcoin price is going up
Sam Trabucco, a quantitative trader at Alameda Research, believes four general factors are pushing up the price of Bitcoin.