Bitcoin

Where will the fall of Ripple and EOS tokens stop?

Navigation

EOS vs XRP Lawsuit: Why Ripple Won’t Settle

Where will the fall of Ripple and EOS tokens stop?

Where the fall of Ripple and EOS tokens will stop?
CONTENT

  • EOS Approaches 24,000 Satoshi Support Level.

  • XRP broke through support of 2500 Satoshi.

  • Both tokens can bounce, but this is unlikely.

International consortium of news organizations developing transparency standards.

On May 2, EOS and XRP tokens lost important support levels. Despite the likelihood of a short-term rebound, the main scenario assumes a further retreat of quotes to the next support zones.

Where will the fall of Ripple and EOS tokens stop?

The dynamics of the two coins are similar, but EOS is slightly ahead of XRP. Cryptocurrency trader @AltcoinSherpa tweeted EOS chart showing price heading towards 2017 levels.

According to her, quotes can reach the level of 25,000 satoshi.

$ EOS #EOS: The picture on the charts is terrible. The next target could be the 25000 level. The dynamics looks bearish on all time charts..

Below we will analyze the EOS chart and try to determine its further dynamics. Due to the correlation between EOS and XRP, we will also pay attention to the behavior of Ripple.

EOS

This month, EOS has broken through the 33,500 satoshi level, which has acted as support since last August. The nearest support zone is now located at 25,000 Satoshi, slightly below the current price.

Where will the fall of Ripple and EOS tokens stop?

If this level is lost, EOS may head to record lows at around 10,000 satoshi. RSI is giving slight bullish divergence signals, but so far they look unconvincing.

At the same time, there is a possibility of a rebound on short-term charts. The price is now in the process of testing the Falling Wedge pattern, which is considered a bullish reversal pattern. Moreover, the RSI provides significant bullish divergence signals.

Thus, the chances are high that EOS will break through the wedge and encounter resistance around 29,000 Satoshi, after which it will head towards the aforementioned 25,000 Satoshi support..

XRP

Like EOS, XRP has broken through the 2,500 Satoshi support, which has been followed since August 20199. The next support comes at 1450 Satoshi. Thus, XRP still has a lot of room to decline to the nearest support level..

On short-term charts, the price follows a very steep resistance line. While the token As the use of cryptocurrencies grows, new types of tokens appear. They can represent value or something intangible like voices. Two … More is below this line, its dynamics is considered bearish.

Where will the fall of Ripple and EOS tokens stop?

At the same time, the RSI is giving significant bullish divergence signals, which could herald an upward breakout. If so, then the coin is likely to retest the area of ​​2500 Satoshi, which was previously broken, followed by the resumption of the downward trend..

Disclaimer

All information contained on our website is published in good faith and objectivity, and for informational purposes only. The reader is solely responsible for any actions he takes based on the information received on our website..

Share Article

Similar articles

Similar articles