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- 1 EOS price prediction suggests a rise till it sustains above the demand zone.
- 2 EOS Price slipped below 50 and 200 day EMA.
- 3 EOS coin price is approaching the demand zone.
EOS Price prediction favors the bulls and suggests a rise in the long term. EOS price seems to be stuck into the wide range between $0.950 to $1.300 and likely to break either side soon. Presently, the price is near to the lower range and buyers are trying to defend the $0.950 level.
EOS price has dropped below the 200 and 50 day EMA showcase positional trend is reversed in the downward direction. The trading volume of EOS crypto is in a declining phase shows less participants are active and price may enter consolidation.
EOS price is trading at $1.024 with an intraday decline of -0.78%. The 24 hour volume to market cap ratio is at 0.0808. The pair of EOS/BTC is trading at 0.0000350 with an intraday decline of -1.69%. The chart structure of the EOS with BTC pair is in a strong downtrend and price is near to the yearly lows. It shows sellers are more active in the EOS/BTC pair as compared to USDT pair.
At the beginning of March, EOS price faced resistance at $1.300 and reverted in the downward direction. It collapsed down with a strong momentum and eroded the gains of February month. The downfall halted near $0.950 and buyers showed some minor bounce from the support.
Will EOS price recover from the demand zone?
EOS price has tried multiple times to break out of the $1.300 hurdle but gets rejected. It indicates bears are still active on the higher levels. Till EOS price is sustaining above the $0.800 support the probability of bounce back is high. However, if the price drops below the $0.800 level then it may raise concern for the long term investors.
The overall market sentiment is turning bullish and market leader Bitcoin Price also sustained above $29000. It may positively impact the prices of the other Altcoins. The technical analysis suggests EOS price is near the demand zone and downside seems to be limited.
EOS price on a weekly timeframe
EOS price formed a Doji candle on a weekly timeframe. It indicates bears losing the downside momentum and prices might enter consolidation. Technical indicators like MACD are on the way to generate a positive crossover but confirmation is awaited. It indicates mild bullishness. The RSI at 37 sloping down denotes prices is near to the oversold territory and a relief rally may trigger anytime from lower levels.
Conclusion
EOS price prediction suggests a rise in the long term till it sustains above the support. The price is trading below both the EMA showcase downtrend. However, the price is near to the demand zone and bears seem to be lacking the downside momentum. The technical analysis says, EOS price is near to the lower range of consolidation and downside seems to be limited.
Technical levels
Resistance levels : $1.200 and $1.342
Support levels : $0.950 and $0.788
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only. They do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
Andrew is a blockchain developer who developed his interest in cryptocurrencies while pursuing his post-graduation major in blockchain development. He is a keen observer of details and shares his passion for writing, along with coding. His backend knowledge about blockchain helps him give a unique perspective to his writing skills, and a reliable craft at explaining the concepts such as blockchain programming, languages and token minting. He also frequently shares technical details and performance indicators of ICOs and IDOs.
