EOS, Neo, Maker Price Analysis: 18 March
EOS registered strong volatility over the past three days, bouncing from $3.7 to $4.4 and back to $3.7 once more, just above its support level. On the contrary, Neo climbed strongly past an area of resistance while Maker consolidated above the $2,000-level.
The $4.3-$4.5 region can be highlighted as an area of supply, with EOS enjoying levels of support at $4, $3.9, and $3.65 under it. At the time of writing, EOS had tested the $3.9-level as support and was moving steadily higher.
The OBV showed that the past few days have seen more buying volume than selling. Such a rise in demand can push EOS to $4.4.
The 20-period and 50-period EMAs (white and yellow) showed momentum was on the side of the bulls.
The Volume Profile Visible Range showed that the Point of Control lay at $41.94. NEO saw a trading session with heavy buying volume shoot past the PoC, with the altcoin trading at $46.92, at the time of writing.
The Stochastic RSI was in the overbought zone, with the same not pointing to an immediate pullback. However, a revisit to the $42-$43 region would likely make for attractive buying opportunities. The RSI was nearing the overbought territory and underlined bullish momentum, even as the price approached the $48-resistance level.
On the lower timeframes, MKR has seen significant volatility. For the better part of the past two weeks, MKR has traded between $2,060 and $2,320. This 11% fluctuation in either direction were scalping opportunities on the hourly, but on the 4-hour chart, the Bollinger Bands showed relative calm.
The past few days saw MKR slip beneath the $2,061-mark to touch $1,951, but it has since climbed back above the $2,061-level.
The lack of trading volume indicated consolidation, and the $2,100 and $2,280 levels can be used as safe take-profit levels.