The altcoins market is in recovery mode and after more than two months of persistent sells, their momentum is fading. Though they still lack solid confirmation, price floors are morale boosting for coins as EOS, Tron, IOTA and even Litecoin which were heading lower. Next week’s price action would influence the short term price trajectory of most altcoins under review. Let’s have a look at these charts: EOS Technical Analysis
First, before taking a trading decision, note that EOS price action is in a down trend. Going forward we shall maintain this stance regardless of yesterday’s completion of a three bar reversal pattern, the Morning Star forming at around our first support line at $4. Overly, we shall retain yesterday’s EOS trade plan and the best way EOS buyers can confirm recent resurgence is if there are gains above $6, Aug 8 highs
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