This entry is part 5 of 31 in the series Technical Analysis by Workin

EOS has been operating within a larger wedge for the past couple months. Today it finally broke down and out of that wedge. Price seems to be eyeing $5.00, which is the prior low of the most recent microstructure.

Ethereum has been consolidating on top of the $196 support for the last 2 weeks. It just broke below that support and could be ready to test at least $185.

In today’s video analysis I discuss, where price may go from here, trading strategies, traps to avoid and MUCH more. I hope you find it helpful.

Video Analysis:

I hope this has been helpful. I’d be happy to answer any questions in the comment section below. Until next time, wishing you safe and profitable trading!


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  1. Zeus69

    Great analysis as usual @Workin2005, you hit the nail on the BEAR head with EOS testing the $5 range, but see it self adjusted again, do you see any further drops or do you think we looking at the end of this bear attack, LOL
    Mark (Zeus69)

    1. Workin2005 Post author

      Appreciate it @zeus69. I address this some in the video. I think we need a catalyst to break this bearish trend…perhaps market moving news like ETF approval, a major short squeeze, mass adoption by a major company like Amazon, etc. Without that, we might need to drop down to prior 2018 lows to bring in new buyers.

    1. Workin2005 Post author

      Thanks Peter. If you really do decide to try your hand at trading, I’d recommend paper trading first….that is, trading with real time market data, but using fake money. You’ll find that function on Trading View. It’s completely free to use.

      1. peter S

        Thanks for the tip of TradingView, never saw it before and will take some time to digest but it looks really interesting. I’m not a daytrader because of time constraints, only do long term investments in projects I believe in, but your type of analyses take a new look on things.

  2. Matthias

    Great analysis Workin. EOS has a clean triangle so we should see further downside there. I was expecting one more small rise in ETH to complete a triangle before resuming the bear trend, but looks like it might have started in earnest.