EOS Price Analysis: EOS To Break Minor Resistance Of $2.70

  • EOS price today has finally started showing positive movement in the market after facing downtrend for the past few days. 
  • EOS is having an overall gain of 2.50%
  • Now that the bulls have become active for EOS, it will be aiming for $3. 

Capture
Source: Coinmarketcap      

EOS Cryptocurrency Price started at level of $2.50 in today’s market and went onto the level of $2.70. It is expected that the positive momentum will help EOS to cross the mark of $3.00. A successful closing above $2.70 mark will help the altcoin to aim for the major mark of $3.00. As of now, the current price of $2.60 with the market capitalization of $2,406,774,995 and 24h volume traded of $2,121,750,358.

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The Cryptoasset attempted to break the minor resistance level of $2.70 with a positive move in today’s market. However, the attempt was unsuccessful and the price level returned to $2.60. If with this positive move, EOS bulls might be able to cross $2.70 and a closing price above will ensure sustainability.

EOS Price Analysis

Screenshot (350)
Source: Tradingview

The technical graph reflects on the bearish momentum made by the altcoin from the starting of this month. It can be said that the month downtrend was the result of both negative fundamentals of EOS and reaching the critical support area of $2.40.

The heavy selling volume was also recorded in the altcoin which increased the magnitude of a downtrend and resulting EOS bulls to reach the support level of $2.00.

As of now, the technical indicators and oscillators favor the bulls. The RSI is in the normal zone and showing positive levels that favor the bulls immensely. However, if the declining nature continues for the cryptoasset, it may face sharp negative divergence too.

The 24hr- CCI was about to reach the overbought region but showing negative nature to the normal zone which indicates that EOS prices are targeting for sustainability above the price level of $2.50.

OBV levels show that there is a kind of consolidation going in the volume for coin.

 MACD levels are in the bullish zones and indicate an upcoming bullish momentum as a bullish cross is been made.

Resistance level: $2.70 and $3.00

Support level: $2.50

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Vasu Singhal
Vasu Singhal is a management student and a stock market trader. He believes that investment avenues and opportunities are very diversified. Therefore, he has an interest in blockchain technology too. He likes to evaluate best investments available in the financial market with showcasing the required skills.

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