{"id":50997,"date":"2018-05-09T22:15:13","date_gmt":"2018-05-10T05:15:13","guid":{"rendered":"https:\/\/cryptoslate.com\/?p=50997"},"modified":"2026-06-12T10:03:40","modified_gmt":"2026-06-12T09:03:40","slug":"technical-analysis-eos-cardano-neo-iota-and-tron","status":"publish","type":"post","link":"https:\/\/cryptoslate.com\/technical-analysis-eos-cardano-neo-iota-and-tron\/","title":{"rendered":"Technical Analysis: EOS, Cardano, NEO, IOTA and TRON"},"content":{"rendered":"

Cryptocurrency markets have pulled back slightly from their bullish sentiment over the past week. In this article, we will use technical analysis to look at the current price movements of EOS<\/a>, Cardano<\/a>,\u00a0NEO<\/a>,\u00a0IOTA<\/a>, and\u00a0TRON<\/a>.<\/p>\n

Disclaimer: This article is not meant to constitute trading\/investment advice. Please use extreme caution when trading any cryptocurrency.<\/em><\/p>\n

For the purposes of this article, we will be using a handful of terminology that non-technical traders may not be familiar with. These terms are at the end of this article under “Glossary.” If you would like to read those terms now, click here<\/a>.<\/p>\n

EOS (EOS)<\/h2>\n

EOS<\/a> had a significantly bullish runup over the past month, rising from around $6 to its all-time high of $22.89 \u2013 however, over the past week, it has consolidated after finding resistance just shy of $23.00.<\/p>\n

\"\"
A clearly upward trendline can be drawn here.<\/figcaption><\/figure>\n

If EOS can break the resistance level, it is likely to continue increasing, as broken resistance levels often become levels of support.<\/p>\n

Taking a look at the cloud, we see the Lagging Span above price, and a bullish Senkou Span cross (aka Kumo twist). Although, the Tenkan-Sen is beginning to slope downward, while the Kijun-Sen remains level \u2013 if they cross, it will be a weak bearish signal.<\/p>\n

\"\"
EOS finds resistance after a few bullish weeks.<\/figcaption><\/figure>\n

Cardano (ADA)<\/h2>\n

After finding support around $0.14, Cardano<\/a> began to regain some ground but found resistance once again at $0.41. Over the past few days, ADA markets have been bearish.<\/p>\n

\"Cardano
$0.14 has become a key support level for ADA, as shown in green.<\/figcaption><\/figure>\n
\"\"
The market is pulling back slightly, but overall the cloud is showing bullish indicators. The Lagging Span struggles to make its way through the cloud.<\/figcaption><\/figure>\n

The Tenkan-Sen is above the Kijun-Sen, the price is above the cloud, and there is a bullish Kumo twist. If the Lagging Span can make its way above price, the combination of signals will be in favor of bullish price action.<\/p>\n

NEO (NEO)<\/h2>\n

NEO<\/a> seems to be moving sideways, consolidating above the $71.00 mark and finding resistance at $91.50.<\/p>\n

\"NEO
The market is going sideways after a long downward trend.<\/figcaption><\/figure>\n

The 1D cloud is not much help either:<\/p>\n

\"\"
Besides the Kumo Twist, there are not too many definitive trading signals for NEO.<\/figcaption><\/figure>\n

Most professional traders do not go long nor short until price closes above or below the cloud. Besides a weak bullish TK crossover below the cloud, it is difficult to say where price is headed.<\/p>\n

Let's take a look at the 4HR chart to get a better idea:<\/p>\n

\"\"
According to the cloud, buyers are rallying, but the further bearish action is likely.<\/figcaption><\/figure>\n

The shorter time frame helps to paint a clearer picture of future price movement. Price is below the cloud, the Tenkan-Sen is below the Kijun-Sen, and the Lagging Span is below price\u00a0\u2013 all bearish trading signals.<\/p>\n

IOTA (IOTA)<\/h2>\n

After finding support at $0.93, IOTA<\/a> has been in a strong upward trend.<\/p>\n

\"\"
IOTA's RSI shows bearish divergence<\/figcaption><\/figure>\n

We can see IOTA found resistance at the Tenkan-Sen, and the Kijun-Sen shows strong bullish momentum. With a bullish Kumo twist ahead and the Lagging Span above price, the cloud is giving many signs of entry.<\/p>\n

\"IOTA
IOTA found support at the Tenkan-Sen as expected. If the Tenkan-Sen slopes upwards, the signs will all suggest positive price action.<\/figcaption><\/figure>\n

TRON (TRX)<\/h2>\n

TRON<\/a> has seen significant gains over the past few months, rising from $0.03 at this time last month to a recent high of around $0.09 \u2013 however, its price movement may be headed in the other direction.<\/p>\n

\"TRON
The 4HR chart is showing a series of lower highs with support at $0.078, forming a descending triangle. If price moves below the horizontal support, bearish momentum is imminent.<\/figcaption><\/figure>\n
\"TRON
The 4HR cloud is signaling a downward shift in the market.<\/figcaption><\/figure>\n

The cloud also reveals short signals:<\/p>\n