EOSUSDT ! False breakdown at 26%. Strong sales in 24 hours!🐻

18. Aug. 2022

EOSUSDT forms quite an interesting set-up. On the chart we have a change of trend, from a global downtrend, to a local uptrend from the point 1.065, formed on July 26, 2022. We have within the uptrend a test of 1.455 resistance, which was in the distribution format.

A deep false breakout, which was 26% of the level to the high, from which the pullback began to form. We see a strong impulse till the level of 1.836, after which there is a strong sell-off, which brings the price back to the short zone against the level of 1.455.

I assume that the price has no potential to break the resistance on the retest. I think a false-break set-up is forming now and after the price fixes under 1.455 we will see a fall. The short-term target is the support at 1.267, the medium-term target is the liquidity zone at 1.154.

Regards R.Linda!