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Please, repeat: EOS takes leadership in China again

Nov 1, 2019

Since our last EOS/USDT pair analysis, the price has definitely reached our target and exited the descending wedge.

The reason for such a sharp rebound was the news that EOS took a leading position in China, leading the Chinese Cryptocurrency Project Rankings.

We can see a formed double bottom figure at the daily chart, which means a reversal pattern.

It is very important to fix above the MA200 level now, where is a price now – 3.2528. If the price goes below 3.0400, you can open short positions safely for this asset (previously set a conditional sell order). 

Nevertheless, we hope that the price will go higher, up to the 4 USDT level, since technical indicators aren’t overheated yet and the price is most likely to be able to continue its upward local trend easily.

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