EOS Price Analysis: Will EOS Break Above The Crucial Mark of $4.00?

EOS looking for a lower breakout in upcoming days
  • EOS is currently trailing above the symmetric parabola with a gain of 1.86% in a 24 hour time frame.
  • Technical indicators of EOS suggest a bearish move. Meanwhile the EOS/BTC pair is showcasing a positive move with a gain of 1.02%.
Source:Trading view

EOS price is at the level of $3.80 with a gain of 1.86% in a day. The price of EOS will face resistance ongoing upside at the value of $4.5.The bounce back for EOS can be seen from the level of $3. EOS price is above 50 and 100 Days Moving Average. The 50MA (Red) line is at the level of $3.68, making it temporary support for the price. The price can see a negative cross-over from 50 MA on the daily chart. If the price moves below 50 and 100 MA, it would be tough for it to recover positively.The current market scenario is in the favor of negative crossover.

EOS is currently ranked at 25, with a market capitalization of $3,912,729,460. The coin volume seeing a gain of  111.31% and is at the value of $3,257,294,162.

Technical Indicators Not In Favor Of EOS Price

Source:Trading view
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The weekly technical chart of EOS highlights a consolidated move for the coin. EOS price has also seen a loss of 1.36% on the weekly time frame. The daily chart of EOS hints at a negative crossover with a bearish move. On coming to the shorter time frame of 4 hours, the coin has formed a parabolic curve. If the price breaks above 5% of the curve, then it can see a new high being formed. The price of the EOS can also see a new low if it comes below the parabola.

The volume indicator is at 59K with the hint of lower selling pressure. If the price climbs above $4.5, then a buying rush can be observed.

RSI(Neutral): It is currently at the level of 50.2, showcasing its presence in the overbought zone. There is negative slope formation in the RSI, suggesting the price may see a downtrend in upcoming days. The overall sentiment of the RSI is Negative.

Bears Getting A Grip On EOS

EOS has seen a gain of more than 80% from the start of the year. The EOS/BTC pair is currently stangated, but it can see growth in upcoming days .An Investor should do their due diligence before investing.

Technical Levels

Major Resistance:$4.5

Major Support:$3

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Adarsh Singhhttp://www.thecoinrepublic.com
Adarsh singh is an Stock market and financial market advisor trader with background in Engineering. He specialises in Technical Analysis while possessing strong computational skills.

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