EOS Analysis: Eos Price Trading with Triangular Pattern while Looking For a Breakout

  • EOS price is placed near the resistance zone of the symmetrical triangle pattern and is currently trading above all major moving averages. 
  • The EOS/BTC pair is trading at 0.00007243 BTC with an intraday gain of +1.68%

EOS (EOS) price is trading in the symmetrical triangle pattern and looking for a breakout and currently trading at the price levels of $2.81 placed near the resistance zone. It is trading above 20,50,100, and 200-Day Moving Averages indicating strong momentum. A drastic change in buying volume observed in the last week indicates the entry of bulls in EOS. Resistance on higher levels is placed at $3.93 and $5.50. Likewise, the support on the lower side is placed at $2.40 and $1.75. 


After a sharp correction on a monthly chart, EOS (EOS) price is trading on a bullish note, followed by the rising support line. After testing the higher level of $3.93, EOS slipped and tested the lower $2.41. Then the price recovery is built up by the support line. Currently, EOS is trading at the price level of $2.81, with an intraday gain of $2.63%. The volume recorded is $2,913,373,833 in the last 24-hour time frame, which jumped over +32.64%. Similarly, the total market capitalization stands at $2,629,429,422, which raised over +1.66 in the intraday. The daily chart’s support levels can be considered $2.70 and $2.50, and the resistance on the higher side is considered $2.95 and $3.10.  

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 The Relative Strength Index (RSI) indicates a bullish momentum while trading at 56.97. Currently, it is heading towards the overbought territory after testing the oversold region.

Moving Average Convergence Divergence (MACD) currently indicates a bullish trend on the daily chart as it gives a positive crossover with the significance buying signal line (green) over selling line (red). However, a negative crossover is expected as both the lines heading closer to each other. 

Support levels: $2.40 and $1.75 

Resistance levels: $3.93 and $5.50

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Pratik Chadhokarhttp://www.thecoinrepublic.com
Mr. Pratik chadhokar is an Indian Forex, Cryptocurrencies and Financial Market Advisor and analyst with a background in IT and Financial market Strategist. He specialises in market strategies and technical analysis and has spent over a year as a financial markets contributor and observer. He possesses strong technical analytical skills and is well known for his entertaining and informative analysis of the Financial markets.

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