Yesterday’s rally has failed to continue making a 3rd lower high since May 21’s peak and printed a new 4H bearish FVG. I’m expecting to see more support levels come into play for EOS.

I am including the 96th largest cryptocurrency in terms of market capitalization, the EOS – EOSUSD.

The US is set to have 5 high impact economic reports starting tonight.

The crypto markets in general including EOSUSD have continued trading above last Thursday to Friday’s dips.

Assessing EOSUSD’s high timeframe candles:

Monthly Candle: Previous close is a Red Body with a Longer Tail Wick current is a Green Spinning Top

Weekly Candle: Previous close is a Green Long Upper Shadow current is a Red Spinning Top

Daily Candle: Previous close is a Green Spinning Top current is a Red Body with a Longer Tail Wick

EOSUSD’s current 4H at time of writing this analysis has managed to surpass previous candle’s high but the bearish FVG seems to be respected.

If we take into account the previous swing low to high move from May 23 to 25 as our retracement levels, since there is a clear failure in breaking higher above May 21’s peak, then current price is facing the 50% fib retracement level as resistance.

By saying this, there is high probability for a price to seek the sell side liquidity levels that are residing below EOSUSD’s last week dips.

Remember also that Bitcoin is rejected at the 70K level and seeking its own support levels in the 66-67K range as well.

My trade plan for EOS is simple enough, based on the analysis stated above, I’m opening a long position towards its 78.60% fib retracement level which is a more discounted array.

I’m riding the sell side liquidity levels that are residing below last week’s dips so I put a stop loss there too in case this long trade plan goes wrong.

If right, I’m taking profit towards the first premium array at 38.20% fib retracement level.

Here are the long orders to play this scenario:

Worth taking the risk as EOSUSD’s in seeking support mode.

Let’s see how this one goes and good luck.

All trade ideas I share are my own views and for my own trades only.

Copy trading and trading directly involve risks.

EOS Intraday Analysis and Trading Plan For May 28, 2024

May 28 2024

Stop Loss -3.11%

Holding time 9d5hr

0.7946

Entry price

0.7699

Stop loss price

1