Disclaimer: The data introduced doesn’t represent monetary, funding, buying and selling, or different forms of recommendation and is solely the author’s opinion.

The quantity profile instrument confirmed EOS has misplaced a crucial help degree.
The crammed imbalance confirmed demand might reverse the current retracement.

EOS has carried out effectively within the markets and maintained its upward trajectory regardless of uncertainty throughout the market. Despite the fact that Bitcoin has retraced a great portion of its positive aspects over the previous two weeks, EOS was fast to rebound.

Learn EOS Worth Prediction 2023-24

This was a present of power. Cash resilient throughout a BTC dump, or those which might be fast to recuperate, are typically sturdy cash for patrons and will outperform a great chunk of the opposite mid-cap cash. Aside from relative power, technical causes had been additionally noticed for EOS’s current efficiency.
EOS confirmed indicators of a rebound after filling the FVG
Supply: EOS/USDT on TradingView
The Seen Vary Quantity Profile confirmed the Level of Management at $1.26. The Worth Space Excessive and Low sit at $1.3 and $1.1, and these three ranges are key horizontal ranges for EOS within the coming weeks.
In yellow, a variety was plotted for the asset that prolonged from $1.1 to $1.31, with the mid-range mark at $1.2. The vary values are fairly near the values highlighted by the VPVR instrument, which strengthened their significance.
On the 4-hour chart, the RSI stood at 50 and has been above the impartial 50 mark since 28 February. This highlighted some bullish momentum on this interval, and the buying and selling quantity was excessive relative to the previous weeks.
The OBV has additionally trended upward all through March, regardless of the drop in costs.

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Furthermore, the market construction remained bullish on the each day timeframe, regardless of the volatility on H4. Moreover, the worth crammed an imbalance (white) on the charts from the current pump. This imbalance sat proper atop a help degree. Altogether, the inference was that extra positive aspects can comply with for EOS.
Lengthy positions are discouraged based mostly on Open Curiosity knowledge
Supply: Coinalyze
The futures knowledge was optimistic for the bulls. The funding fee was constructive which confirmed bullish sentiment available in the market. The Open Curiosity noticed a pullback when EOS confronted rejection on the vary highs.
This meant lengthy positions had been probably closed in the course of the dump however the quick sellers didn’t enter the market en masse, as that might have seen an increase in OI. Subsequently, the patrons have some room to shift issues of their favor.

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