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- EOS volume has reached two times the market capitalization. Meanwhile, the EOS price sees a positive momentum with a gain of 30.19%.
- Technical indicator hints the continuation of Uptrend. In contrast, the EOS/BTC pair is also seeing a bullish momentum with a gain of 32%
EOS price is trailing at $11.8 with a gain of 30% in an intraday session. EOS price jumped more than 100% in less than three days. It has seen a significant gain in the previous month. It is currently above 50 and 100 Daily Moving Average. The 50MA is currently at $6.11, making it temporary support for the price. EOS/BTC pair is currently at 0.0002113 BTC and can soon gain more than 50%.
EOS is currently ranked 23rd, with a market capitalization of $12,230,155,166.The volume ($22,581,185,336) of the coin has jumped by 128% in the 24-hour time frame. The volume to Market capitalization ratio for the coin is 1.99. It depicts a bullish scenario for the coin.
Technical Indicators Projects A Halt In Bullish Trend For EOS Price
EOS price showcases a bullish momentum on the weekly technical chart.EOS shows signs of a slowing down bullish momentum in the daily chart. The coin’s resistance on the upside will be at $15. Ongoing down, it will see a bounce back from $8.5. EOS price has formed a bullish engulfing pattern on the daily chart. If the price breaks above $15, then a strong bullish momentum up to the point of $25 can be seen.EOS/BTC pair is also on the verge of breaking the previous resistance and climb to a new high.
RSI(Bearish): It is currently trailing at 79.34, highlighting its presence in the overbought zone. There is positive slope formation in RSI, which supports the bullish momentum. Being in the overbought zone, the price can correct itself before going up.
Conclusion
EOS price projects an uptrend for upcoming months. It has jumped from $6 to $12 in less than three days. The EOS/BTC pair can also see a bullish move. An Investor should do their due diligence before 9investing.
Technical Levels
Major Support:$8.5
Major Resistance:$15
Adarsh Singh is a true connoisseur of Defi and Blockchain technologies, who left his job at a “Big 4” multinational finance firm to pursue crypto and NFT trading full-time. He has a strong background in finance, with MBA from a prestigious B-school. He delves deep into these innovative fields, unraveling their intricacies. Uncovering hidden gems, be it coins, tokens or NFTs, is his expertise. NFTs drive deep interest for him, and his creative analysis of NFTs opens up engaging narratives. He strives to bring decentralized digital assets accessible to the masses.
