EOS Breaks Out From The Equilibrium Pattern But Sees No Continuation

[Whaleagent]

https://whaleagent.club/eos-breaks-out-from-the-equilibrium-pattern-but-sees-no-continuation/



EOS seems to be really weak after quite a strong year start. Not even a bullish break seems to be helping EOS, time to short?

[SirLancelot]

You still believe that technical analysis would work in these state of market, how can you expect A to work in a market that is still too full of many competitors and market that cannot be predicted, so it would not be easy for your TA to even be able to predict any coin now. I would rather you even rely on the fundamentals around the coin than the technical.

Yes this coin has really use case and they have a very wonderful project to offer to the public, but you have to consider the acceptance rate and the exposure of this project to the public, how many people different from the current investor and investors that got to know about them during ICO has been patronizing them. And how do you expect a break out for a project that the dev. Team is not really pushing hard on it?

[pakhitheboss]

EOS undoubtedly a great project but, has less public acceptance and exposure. I have read a lot about EOS as in it is the next Ethereum killer but practically it is not. It is ranked quite high on CMC because of DAPPS otherwise it would have been below the top 100.

If anyone wants to invest in EOS then they have to think for the long term. Practically it is not meant for day trading, therefore, it is useless to check its technical analysis. Moreover, technical analysis does not work in cryptocurrency (because of market manipulation). Fundamentals and news are more important to track the price of any cryptocurrency.

[rose9696]

https://whaleagent.club/eos-breaks-out-from-the-equilibrium-pattern-but-sees-no-continuation/



EOS seems to be really weak after quite a strong year start. Not even a bullish break seems to be helping EOS, time to short?

EOS has not had many updates to be able to grow strongly. Just like Binance, a few months ago, its price continuously decreased from $ 10 -> $ 5.5 and there was no growth. but now things are different when they public Binance LaunchPad.
We should give EOS time to prepare them for a bull run.

[styca]

I've never been much of a fan of TA for altcoins. For BTC maybe, but alts are all tied together too much, and dependent on the price moves of BTC and the whole of the market.

Sure TA can help if everyone thinks it works, because then people will effectively be making it work by acting as if it does (if that makes sense). But on a fundamental level I'm not convinced by TA for alts.