We've been looking at the daily timeframe for EOS and the daily timeframe is mostly short-term. This is because we were focused on a leveraged trade setup. But, now that the bullish bias has been confirmed—notice how big is this weekly session—we can consider the bigger picture.
Here is EOSUSDT still moving within the long-term consolidation channel that appeared after the 2022 bear market. Immediately we can extract some positives out of this information, it is still early.
While EOS has been growing now for two months straight, since March 10, the action is still happening below the early December 2024 high. This high is part of a long-term consolidation channel.
As the action turns bullish and a recovery develops, EOS will finally enter the bullish zone. The bullish zone activates higher prices and these higher prices will lead to the 2025 bull run ending in a new All-Time High.
The targets are divided in two sessions, the local targets ending around $5.50 and the "global" targets which show $9.50 as a strong level, $11.8 and also $23.6 as a new All-Time High potential. This is only a potential because I haven't given much thoughts to these numbers. My strategy is to keep it clean and simple. Get the bottom—buy when prices are low—wait patiently and let the market grow.
Just as the market showed us with clear and strong signals when the bottom was in, it will also reveal when the top is in. We just buy and hold and when prices are up, we enjoy the profits and consider selling when the action is near a top. Not the perfect top, but near the top because it is hard to know how far up a Cryptocurrency can really go.
When the last wave comes, the market becomes euphoric and everything gets out of control. A rise to $23 can lead to $34, $55, $80 or even more because the last wave is the speculative phase, anything goes.
I hope you enjoy the content.
It is still early.
Thanks a lot for your continued support.
Namaste.
