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FxWirePro: EOS/USD consolidates after massive 350% jump in Apr, markets eye official Main net launch

  • EOS/USD has jumped sharply almost more than 350% and managed to take over Litecoin’s market cap. EOS has released EOS Dawn 3.0 in form of test net and EOS Dawn 4.0 released on May 4th. It is main reason for sudden jump in EOS prices. The launching of EOSIO main net scheduled for May 11th 2018. It is consolidating between $15.91 and $19.63 for past ten trading session. The pair hits life time high of $23.02 on Apr 29th 2018 and shown a minor profit booking. It has recovered more than 450% from temporary bottom of $3.8700 and is currently trading around $18.61.
  • The pair has taken support near 38.2% fibo and shown a minor jump from that level. The near term resistance is around $20 and any break above will take the pair to next level $26.6 (161.8% fibo)/30.
  • The major support is around $17.77 (daily Tenken-Sen) and any convincing break below will drag the pair till $16.30 (20- day MA)/$15.41 (daily Kijun-Sen). Major weakness only below $3.87.

It is good to buy on dips around $18.20-50 with SL around $16.66 for the TP of $23/$26.

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