ello, Skyrexians!
We continue analyze the crypto dinosaurs coins. Today we will try to understand if permanently dumping asset $EOS has any chance to bring profit for it's holders. This coin was on hype in 2017-2018 but since there has not showed any performance and only dumping every months. Some investors probably forgot about this assets, but for those who want to get rid of this we have a great news because it looks like exit pump incoming soon!
Let's take a look at the weekly time frame. Let's count global waves as a huge zigzag ABC. Wave C consists of 5 Elliott Waves. At the end of the wave 5 Bullish/Bearish Reversal Bar Indicator [Skyrexio] has printed the green dot. As you know already from our previous articles this is very strong sign of reversal to the upside. As always, alerts from this indicator are automatically replicated on my accounts. You can find the information in our article on TradingView.
The next move we can call exit pump. We expect the fast pump to the 0.61 Fibonacci retracement zone. This Fibonacci is based on regular scale, don't be confused why it's so high. For your convenience we use logarithmic chart. Target zone is located between $7 and $8.
Best regards,
Skyrexio Team
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