Technical Analysis
EOS finished the weekend down from its highs in the $18 range after the breakout from special announcements. It has been re-tracing since then finding support around the high $12’s. Currently we are sitting at just over $14 as of 9:20 am CST.
This is healthy movement and is in the range of the continuing uptrend. Keep an eye on the $12 level. If it fails to support we may be back in the $10 range and it manages to get over that red-line at any point we might see another jump higher.
Short term view - I like the bullishness here although could go either way
Edit - I will be doing an update almost everyday and as such will be giving away some litecoin to a random user who upvotes my post. Once you upvote - put your ltc address in the comment section. My way of saying thanks and hopefully we can continue to grow the EOS ecosystem.
UPcoin registrations link - new exchange (not yet released) offering a credit in trading fees for help with a survey
Solid work
It also can drop till 3.1. For your TA I would wait 2 maybe 3 test of your green support line.
If this fails, then it is possible to drop til 3.1/3.2 or something like that. But hey: Who knows that?! ;-) It's Crypto. So play with the circumstances.
You are right, the only reason I don't think that will happen is because it just happened not long ago. Confidence in the project is higher now and people saw how quickly it snapped back up.
Yeah, if you look at EOSETH: it looks like a cup 'n handle. So maybe it will go your way. If it so, then KABOOM