EOS (EOS) Analysis: EOS Coin USD Provides Positive Breakout Above $3.00

  • The altcoin bullish season has provided EOS Coin USD new levels for the year by having a positive breakout above the bullish mark of $3.00
  • The price levels have also broken above their previous resistance mark of $3.10
  • The EOS/BTC pair is also performing significantly positive with an overall gain of 9.75% bringing the current level to 0.00008755 BTC

EOS Coin USD Shows Sustainability Above $3.00

Source: Coinmarketcap

The weekly price performance chart of EOS Coin USD resembles the gradual positive momentum built by the price levels from the past couple of trading sessions resulting in a positive breakout above the bullish mark of $3.00. However, during the current market period, the levels are facing moderate resistance from the price point of $3.50 which can be categorized as the next target for a breakout. The CMP is placed at $3.25 with an overall gain of 9.75% bringing the market capitalization to $3,044,205,443 resulting in an increase of 8.50%. The 24-hour volume traded has reached $6,711,492,800 resulting in an incline of 6.47%. 

EOS Price Levels Targets Resistance of $3.50 On Technical Chart

Source: Tradingview

The technical chart reflects on the magnitude of the bullish momentum by EOS from the past couple of trading sessions. The bulls hinted at their arrival by having a positive breakout above the major resistance line placed at 0.382fib level. Thereafter, the price levels also had a positive crossover above the bullish line of 0.236fib level and currently sustaining above it. The crypto asset has formed a symmetrical triangle pattern in the bullish regime and will be looking for a positive breakout in the upcoming market sessions.

The relative strength index (RSI) has retraced back from the overbought region probably because of the current resistance level of $3.50 acting.  

The moving average convergence & divergence (MACD) has also formed a bearish crossover and showcasing negative nature above the signal line. 

The directional movement index (DMI) is resembling bullish nature as ADX moves well-above +DI and -DI respectively. 

Resistance Level: $3.50

Support Level: $3.20 & $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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