EOS, VeChain - Altcoin Chartanalysis

EOS Chart Analysis

Source: Tradingview*

EOS has broken its week-long downtrend and has now confirmed the support zone. At the moment we are at about 3.90 USD and a market capitalization of about 3.9 billion USD.

At the moment it looks on the 4H chart that we are forming a bullflag (descending downtrend after a steep rise). If we manage to leave this bullflag in the next few hours and possibly confirm it, the price target of this chart pattern is at approx. 4.75 USD. In the RSI (Relative Strength Index), we are in neutral territory.

VeChain Chart Analysis

Source: Tradingview*

In VeChain (VET), we have also made it out of the downtrend and confirmed it. Currently, we are in a support zone at around USD 0.076 and a market cap of around USD 5 billion.

On the 4H chart, we can see the possible formation of a double bottom pattern (W formation). VET may have found its bottom here and may be looking for a trend reversal.

To complete this chart pattern, it is important to form a higher high. Currently, this is at around USD 0.095. If VET manages to take this out in the next few days and reconfirm it as support, it would represent a trend reversal.

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