EOS Breaks Through Daily Support Zone but Means Money for Traders

Direct from the desk of Dane Williams.

Hey team,

EOS has been one of the markets that I've been loving lately, simply because it's been trading in a textbook manner.

After we shorted EOS off the top zone in the following daily chart, price has now found itself trading around the middle zone:

EOS/USD Daily:

While Ethereum and Bitcoin may not have broken a single daily support zone during the most recent correction, EOS on the other hand was crushed.

Not only did it go through a higher time frame support zone, but it also then retested it as resistance and has stayed below it.

Just take a look at the intraday price action on the EOS hourly chart below:

EOS/USD Hourly:

While it's frustrating for long term holders, its still money for the day traders.

Find those short term zones, wait for multiple time frames to line up and trade around them.

By the way, how good is it that crypto markets are open on the weekend.

How did we ever manage only trading traditional forex markets Monday to Friday before ;)

Best of probabilities to you,

Dane.

FOREX BROKR | LeoFinance Blog Daily market analysis.