EOSUSD appears to be coiling up for a surge higher, with bears thus far failing to act on a potential Head and Shoulders topping pattern that's been brewing over the past few days:
Pair was looking a little heavy earlier in the session, however bulls managed a nice little surge out of $10.20, driving the pair as high as $10.95 before pausing for a breather.
Initial resistance is the 11 dollar handle, followed by yesterday's high of $11.70.
A break above yesterday's high would target the record high of $12.50, followed by the ascending channel top at $12.80 and counting.
A break below the ascending neckline around $10 would shift focus to channel floor and former resistance confluence in the $8.8 to $9.30 zone. Only a clear break below the lower bound would invalidate my immediate bullish bias.
I'm long 3:1 from an average of $8.60 with a break even stop protecting my balance in case of reversal.
To the moon baby!
