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- The EOS price is currently trading at $1.031 while seeing a change of -50% in 24-hour trading volume.
- The price of EOS is observing a decline of 1.42% in the last 24 hours.
The EOS price is seeing an acute bearish decline in the price as predicted in the previous analysis. The Investor’s sentiments are moving toward the fear zone. Presently the price is taking support from its previous support zone. The EMA levels are acting as its most severe resistance level the price has not been able to breach its critical barriers despite several attempts in the recent bullish phase in the overall market.
At Present, the price is indicating that it may make a bullish recovery in the near future. If the buyers provide support to its current levels it can gain 13 – 20% of its value back within a week. Buyers may prefer to keep a keen watch on this token.
EOS Price Making a Bearish Ascending Flag Pattern
In the previous analysis, It was predicted by the analysts that the price can take a bearish correction of 20 – 25% despite the fact that the price was trading above all the major EMA levels.
The reason for giving the analysis was that the price was making a bearish ascending flag pattern and it was trading on an uptrend making a higher high and higher low but the RSI line was making a lower high and lower low. The stochastic RSI was also trading in the bear’s favor taking rejection from overbought levels.
Observing historical price action it was seen that the price has been receiving a constant rejection from buyers around the 200 EMA. Hence it was estimated that the price may follow a similar pattern.
Technical Analysis of the EOS price
The RSI line is trading above 30 RSI points. As of now, the RSI is presenting a positive view for the near future on the daily timeframe. The value of the RSI line as of now is 35.06 points; the 14 SMA is providing resistance at 41.57 points.
The Stochestic RSI is also showing a bullish point of view. It is taking a reversal from trading near the oversold zone. The %K line crossed above the %D line by 8.11 points.
Conclusion
The EOS price is currently trading near the demand zone. The present-day support zone for the price of EOS is around $1.000 and its major support level is at $0.900. And latest barrier for the price of EOS is near $1.119 where its major resistance is at $1.300
Technical levels –
Support – $1.000 and $0.900
Resistance – $1.119 and $1.300
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only, and they do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
With a background in journalism, Ritika Sharma has worked with many reputed media firms focusing on general news such as politics and crime. She joined The Coin Republic as a reporter for crypto, and found a great passion for cryptocurrency, Web3, NFTs and other digital assets. She spends a lot of time researching and delving deeper into these concepts around the clock, and is a strong advocate for women in STEM.
