We will be conducting a macro analysis between the three competitors TOMO, EOS, and TRX while analyzing their technical status and comparing all three together in the end.
TOMO has been going through some very high volatility, which is very good and tiring at the same time. Due to LUASwap, the whole pump has retraced back into the key-area of support and is currently not seeing any reaction or action yet.
Nevertheless, looking at the volume, one can see that it is strongly divergent and deficient compared to the volume, which brought TOMO to the most recent highs.
The MKAST Algorithm is still on a buy-condition, giving good hope to the TOMO investors and the possible bounce at the support. The price is trading below the LenLen ribbon, so it should be taken carefully.
The MKAST index is at 5/15 points, which is slowly becoming over-sold and could be giving strong confluence soon.
EOS has seen a massive breakout lately after touching base at the key-area of support. This impulsive breakout is caused due to an announcement of a partnership and has brought a lot of attention to EOS.
This attention now has the only job to be sustainable and push EOS to its previous highs. Should this not be the case, then this bounce can only be seen in history as a dead-cat-bounce.
Looking at the MKAST algorithm, there is still a sell-condition, which is very understandable, as we have already elaborated. Nevertheless, the LenLen ribbon is on the brink of turning into a bullish condition, giving strength and hope for EOS and its sustainability. The MKAST Index is at 11/15 points, which is slightly high and still supportive of further upside.
TRX has been moving strongly in the previous weeks, yet the focus has left TRX and is now lying on different projects. This can be very clearly seen, as the price action has died down and is more looking like it is moving sideways and slightly to the downside.
Looking at the volume, one can see it being relatively low at support and unable to sustain any strong pumps or spikes. This is not something a trader would want to see at a key area of support.
Nevertheless, it is worth mentioning that the key-area of support has not been punctured yet, and a real test might still becoming.
The MKAST Algorithm shows a very self-explanatory sell-condition, and the MKAST Index is above its ALMA. Still, it is going sideways, where any slight movement to the downside would bring it back beneath it.
All in all, there is once again a noticeably clear line between the three competitors.
TOMO is leading the race, after the almost 100% increase, coming back at support with very low volume gives it the best opportunities for a possible bounce.
Following TOMO, there is EOS in line, which already has broken out and is currently retracing back into support or the LenLen ribbon moving support, giving it the chances of a healthy bounce and continuation.
Closing the list, there is TRX with rather disappointing price action and no clear movement or bullish signs at the key-area of support. TRX has to start moving very soon and rather strongly; otherwise, it will become a sinking ship.
The content is for informational purposes only. You should not construe any such information or other material as legal, tax, investment, financial, or other advice. Nothing contained on our Site constitutes a solicitation, recommendation, endorsement, or offer by Upblock or any third party service provider to buy or sell any cryptocurrencies (also called digital or virtual currencies, crypto assets, altcoins and so on). Trading and investing in cryptocurrencies (also called digital or virtual currencies, crypto assets, altcoins and so on) carries a high level of risk, and may not be suitable for all investors. Before deciding to trade cryptocurrencies, you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with cryptocurrency trading and seek advice from an independent financial advisor. ICO's, IEO's, STO's and any other form of offering will not guarantee a return on your investment.
Any opinions, news, research, analyses, prices, or additional information contained on this website is provided as general market commentary and does not constitute investment advice. Upblock will not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from use of or reliance on such information. All opinions expressed on this Site are owned by the respective writer and should never be considered as advice in any form.