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EOS price shows massive bullish divergence


 

The EOS price forms a massive bullish divergence in the weekly RSI. Should this now dissolve, the EOS price could rise sharply.


EOS price shows a massive bullish divergence in RSI against BTC

The EOS price shows a massive bullish divergence in the RSI of the weekly chart against BTC. EOS could rise 100-180% as a result, to meet resistance at the 0.382 Fib level at 0.0001339 BTC or the golden ratio at 0.00019 BTC. The 50-week EMA, which acts as an additional resistance at 0.0001170 BTC, is also slightly below the 0.382 Fib level. In addition, not only is the RSI bullish, the MACD is also giving bullish signals. So the histogram ticks bullishly higher while the MACD lines are close to a bullish crossover. With EOS at an all-time low against BTC, no further support is waiting for it.


EOS price was bearishly rejected at the golden ratio at around USD 15

At the height of this year's bull cycle, EOS hit around USD 15, with it being bearishly dismissed on the golden ratio. As a result, the EOS price returned to support around USD 3, whereupon EOS attempted to end the correction and break out bullish. Even the horizontal resistance at around USD 9 remains unaffected and EOS is very bearish, especially this month.


A death cross is established in the weekly course

In fact, the 200-week EMA is just gaining the upper hand against the 50-week EMA, forming a death cross. Should EOS break through the current support at around USD 3, EOS will not find support again until around USD 2. Despite this bearish outlook, the MACD's histogram is ticking bullish higher this week. However, this could change in the course of the week as the week has only just begun. Should the histogram close bullish this week, this would be a bullish sign and an indication of a short-term upward movement. EOS will then find the next significant resistance at around USD 7.


EOS price already encounters resistance at USD 4 and USD 5

Otherwise, the MACD is bullish in the daily rate. There the histogram is ticking bullishly higher and the MACD lines are bullishly crossed. But here, too, there is a Death Cross of the EMAs. Should EOS rise bullishly against BTC, however, the USD price will probably also be affected by EOS. EOS is already finding the next small resistance at around USD 4 and 5.

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