EOS, One of the Few Tokens to Not yet Have Gone to All Time Low
Despite the positive news about the launch of the EOSIO 2.0 protocol, the rate of EOS/USDT pair is not in a huge rush to bounce back to its ATH. After a strong downward squeeze on September 24 the price was only able to come back up to 3.30. Meanwhile, against the backdrop of a price decline of all altcoins the price dropped to the bottom boundary of the flag.
This pattern signifies a continuation of the trend, so there is no point in expecting strong growth right now. The breach of the lower boundary of the flag will trigger a strong wave of selloffs of the coin, which will likely drive the price to the 2.60 mark. As a result, this development will have a negative effect on the asset overall.
We cannot currently recommend buying EOS for USDT: the best way to get into the currency would be to wait until the price reaches 2.50-2.60 (upon following the global vector of the trend). At this level it would be sensible to place a limit order to buy.
This pattern signifies a continuation of the trend, so there is no point in expecting strong growth right now. The breach of the lower boundary of the flag will trigger a strong wave of selloffs of the coin, which will likely drive the price to the 2.60 mark. As a result, this development will have a negative effect on the asset overall.
We cannot currently recommend buying EOS for USDT: the best way to get into the currency would be to wait until the price reaches 2.50-2.60 (upon following the global vector of the trend). At this level it would be sensible to place a limit order to buy.
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