As altcoins prices fluctuate, out trade plans continue to hold true. While we remain bullish on most coins as EOS, Tron, Litecoin and IOTA, the latter shows promise. It all has to do with on chain development and with Roman simulation prove that its possible for the tangle to reach consensus within seconds and process up-to 11,500 TPS, IOTA investors should be upbeat—and they are.
Just finished a basic test of ~95.000 network simulations for our consensus theory. Confirmation time from few seconds up to few minutes depending on the safety setting (almost instant paying for a coffee, or few minutes when buying a car?)
Lets have a look at these charts:
EOS Technical AnalysisEOS Daily Chart by Trading View
As the week concludes, EOS is ending on a high shaking off Aug 30 bear attempts. While our trade plan is live and edging higher as laid out in prior EOS price analysis, taking a cautious stand as prices approaches the first level of resistance at $7 is ideal. After all, considering the general set up—prices are moving within a bear break out pattern primarily ignited by Aug 8 bear bar—, it doesnt make sense to buy as risk reward ratio is prohibitive.
Instead, a more sober approach is to wait for a reversal at $7—now that prices are slowing down OR a high volume break above $7 steeling bulls and allowing buyers to flow into EOS with first targets at $9 and later $15.