EOS price analysis: Cup and saucer breakout in the offing?
|- Cup and saucer formation, waiting for the breakout move.
- Potential to double the price.
EOS, which surprised everyone last month with a massive 5000 percent upmove in a quick time has another such move awaiting for the investors, if the formation of technical pattern, cup and saucer is any clue. This time, it could result in doubling of prices from the breakout point.
EOS/USD is up nearly 5 percent on day and up quite a bit from the low of the day, which is $12.674. On daily charts, there's a clear visibility of a cup and saucer technical chart pattern and once breaks out could easily result in prices rallying up to double, at least, from the point of a breakout.
Immediate resistance, in this potential upmove is around $15.15, earlier lower high, that needs to cross and sustain. Among the news that matters, EOS has been added as a tradable instrument on the Barter DEX index. (Read earlier story here)
EOS/USD daily chart:
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