EOS's double-top setup on the daily chart paved a path for its recent bear run. A plausible reversal from its current rising wedge could pose hurdles for the bulls in the coming sessions.
The findings of the following analysis are the sole opinions of the writer and should not be considered investment advice.The crypto’s recent reversal entailed a solid uptick in its funding rates on Binance.patterned breakdown. The resultant decline entailed a position below the Point of Control . But the $1 support evoked buying pressure and a few green candlesticks over the last few days.
The current reversal from the $1-mark could find rebounding grounds from the POC in the $1.18 zone. A U-turn from this range would position the coin for a near-term downside.