We see that EOS fell to 0.382x before bouncing hard to 0.786 -> but failed to stand above it.
Now the critical threshold is 0.618 (blue horizontal line):
I think the second scenario is more likely.
Now the critical threshold is 0.618 (blue horizontal line):
- If it falls below it, EOSETH will have another corrective wave, perhaps to 0.5x (0.0083ETH).
- If it bounces, this means EOS will have fully reversed its bearish trend & could retest 1x (0.00148ETH) soon.
I think the second scenario is more likely.
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appears to be sound even in today's huge dump. EOS has probably fallen deep enough against ETH.
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I guess EOSETH is about safe at this point. Perhaps EOS will go up after the crash is over.
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Indeed a dragon reversal.
