EPS/USDT Downtrend breakout. How high can we go till EOY?In case you miss a chart you can suggest it in the comments. Maybe we will cover it next time.
Intro:
- Ellipsis is a low slippage stable coin swapper onto the Binance smart chain ( BSC ).
- SEC confirmed that crypto will not be banned which is positive for the whole crypto market.
- DeFi projects appreciated a lot of attention during the first quarter of 2021 and probably will again during Q4.
Daily chart:
- Price shows a breakout above the purple resistance line. The 0.45$ line now acts as support. We immediately face the local resistance around 0.53$.
- Volume is on a steady decline since September where price peaked. Once we confirmed the trend reversal we expect additional price spikes.
- RSI analysis confirms the breakout alongside price.
- Support lines are at 0.45$ and 0.35$.
- Resistance lines are at 0.53$, 0.8$, 1.075$ and 1.5$.
Expectation:
- We expect a further price appreciation during the next three months and a solid recovery into October. After the peak around 1.1$ we got hammered down to 0.45$ and expect to recover within this month.
- Looking forwards into October where we might see an ETF approval for Bitcoin . This would be in favor for the whole market.
- Binance got rid off some FUD that partly caused it's price to fall. Now BNB sees a great recovery which opens the doors for BNB projects like EPS .
- DeFi will get more attention during Q4 again and not only for Tax reasons.
- End of the year prediction: We will see a 1.5$+ EPS before the end of 2021.
Basic rules:
- Never buy the top/ ATH
- Take profit as long as you can (also partial profit is profit)
- Use Stop/loss for leveraged positions
- If you are not experienced, don't leverage in the first place
Enjoy the ride and don't be too greedy.
If you like the content, please like, comment and give this channel a follow.
We would love it if you could share your thoughts in the comments.
Discussions are very welcome here.
Always do your own research and keep in mind that my charts and comments cannot be considered financial advice.
Cheers
ps.
Chart explanation:
Main lines:
- Green lines are tested support lines.
- Orange lines are resistance lines or, if we are above, possible support lines which were not tested yet.
- Cyan line is for volume trendline.
- White lines are Fibonacci retracement levels
Helplines:
- Purple lines are trendlines we take a look at.
- Blue, green, white and pink lines are 200MA, 100MA, 50MA and 20MA.
- Yellow lines are for visual help only.
Specials:
- Boxes represent either entry zone or support zone . Check the description.
- Cameras represent MA crossings. Yellow camera stands for a golden cross while the cyan camera stands for a death cross.
Lowslippage
EPS/USDT Binance listing is only the beginningEPS got recently listed on Binance and is still a very young project.
Ellipsis is specialised on low slippage for stable coin swaps which becomes very handy.
After this selling opportunity we suppose the bullish head and shoulders indicate that we are going upwards again.
Basic rules:
- Never buy the top/ATH
- Take profit as long as you can
- Use Stop/loss for leveraged positions
- If you are not experienced, don't leverage in the first place
Enjoy the ride and don't be too greedy.
If you like the content, please like, comment and give this channel a follow.
Always do your own research and keep in mind that my charts and comments cannot be considered financial advice.
Cheers
ps.
Chart explanation:
Main lines:
- Green lines are tested support lines.
- Orange lines are resistance lines or, if we are above, possible support lines which were not tested yet.
- Cyan line is for volume trendline.
Helplines:
- Purple lines are trendlines we take a look at.
- Yellow lines are for visual help only.
Boxes:
- Either entry zone or support zone. Check the description.
