Hey guys,

Evening Steemit cryptoverse.

Check out the following EOS price action. It’s not something I’ve traded myself, but if you’re ever under the impression that markets are moving irrationally or ‘capitulating’, just take a look at this.

Start with the daily for context and look at how far clear from higher time frame support/resistance we are:

EOS/USD Daily

So in a bearish trend like this, the path of least resistance is definitely to the downside.

Now zoom into an intraday chart, in this case an hourly:

EOS/USD Hourly

Look at these clean breaks of support, then easy retest of previous support this time as resistance.

Doesn’t look too irrational or like capitulation to me. Now we wait for the next higher time frame support zone on that daily chart.

Peace ✌🏻.

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