EOS Drops After Breakout From Long-Term Resistance

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In Brief
  • EOS has failed to sustain a breakout above a long-term descending resistance line.

  • There is long-term support at $2.30.

  • Daily technical indicators are bullish.

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Even though the EOS price broke out from a long-term descending resistance line, the price has fallen back below it since. Despite this drop, EOS' bullish formation remains intact. Long-Term Deviation The EOS price had been following a descending resistance line since May 2019. The price broke out from this line in July 2020 and reached a high of $3.65 on August 16. However, the price

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Valdrin is a cryptocurrency enthusiast and financial trader. After obtaining a masters degree in Financial Markets at the Barcelona Graduate School of Economics he began working at the Ministry of Economic Development in his native country of Kosovo. In 2019, he decided to focus full-time on cryptocurrencies and trading.

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