The last emerged crossover was partially confirmed, being interrupted by a bloodbath in the cryptos market… which resulted in a formation of a submerged crossover when we’re still in the middle of Bollinger Bands.
If you’re following our analysis, you know that a submerged crossover is a strong bear flag. So you can wait for a dip soon.
Let’s take a look at each indicator of our setup…
RSI – At the moment we’re at 43 and will likely approach the 30 range in the very short term.
Stochastic RSI – We’re almost at oversold levels… even if a little pump happens, it’s likely that we’ll oscillate below 20 soon.
Stochastic – We’re at oversold levels here… it seems like there isn’t much margin down in the short-term.
MACD – The lines are overlapping, indicating a moment of uncertainty… but that scenario will not last long since the market doesn’t like indecision.
In the long term, the MACD is quite bullish and you should see the blue line taking over upside again in a few days.
Conclusion: If you plan to invest in EOS, the time to jump in seems to be approaching. The market should make a decision up after small dips. Two things you should be alert here to enter with a good margin, RSI at oversold levels and price at the bottom of Bollinger Bands… wait for that and you should be fine. Also, stay tuned for future updates!
— September 13, 2018