EOS: Price Analysis, July 16

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EOS/USD

EOS has bounced off the $6.55 levels and has reached the downtrend line. The 20-day EMA is also located just above the moving average. We expect strong resistance by the bears at this level.




EOS




If the bulls break out of this, we might see a move to $9.4456, where the EOS/USD pair will again face strong selling pressure.

We propose long positions once the digital currency sustains above $9.4456 levels. The pattern target of this trade is $11.9986. If the bulls scale above this, a rally to $15 is likely.

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