EOS spiked after its EOSIO 1.0 launch and came close to its first target objective of $15.6356, specified in our previous analysis. However, we have not recommended any positions because we don’t trade during major events due to the high level of uncertainty.
The EOS/USD pair is witnessing profit taking at higher levels and is likely to retest the breakout levels at $12.9870. The 20-day EMA is also located just above this level.
If the level holds, the bulls will try to resume the up move towards $18.67 levels once again but if the support breaks, the digital currency will re-enter the range and can slump back to $10.3384 levels.
We shall wait for more clarity to emerge before recommending any trade on it.