EOS/USD price analysis: Support at $12.00 and what to expect

After finding support at $12.00, the EOS/USD pair is trading at $13.50 at the time of this article. The anticipation surrounding the mainnet launch on June 2 has certainly played its role.

As you can see on the chart, the EOS/USD long positions have substantially increased during the establishment of the support at $12.00 initiating a bounce on the lower trend line of the Bollinger Bands. What matters the most as this point is to have the long positions to supersede the short ones.

I have opened a long position at $12.15 with a stop-loss order at $12.95 that I will update in the next few hours. My mid-term exit strategy is at $17.50, but the pair could quickly test the support line, especially if the BTC/USD pair takes another dive.

Remember that patience is the key here and it is always better to abstain from entering a trade than entering a trade where you lose money. 99% of my trades are limited to 1 or 2% profits. The remaining 1% follows the waves while always placing and updating stop-loss orders.

I would appreciate your feedback and your vote very much.

Investing in cryptocoins or tokens is highly speculative and the market is largely unregulated. Anyone considering it should be prepared to lose their entire investment.

For Educational Purposes Only.