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- The EOS price has started recovering, volume has begun to rise still the coin needs more buyers to make a significant recovery.
- The crypto asset is trading below the 20, 50, 100 and 200 daily moving average over the daily chart.
- The EOS/BTC pair is at 0.00004668 BTC with a gain of 1.39% in it.
EOS is a platform that is designed to allow developers to build decentralized apps. The project’s goal is relatively simple, to make it as straightforward as possible for programmers to embrace blockchain technology and ensure that the network is easier to use than rivals.
The EOS price is suffering between the battle of bulls and bears over the daily chart. The volume is still moving below the average. The coin needs to attract buyers in order to pump the volume to help the price to recover. The bulls need to speed up regarding the recovery as the EOS price is moving at its all time low. EOS price is currently trading above the 5 days simple moving average.
The current price for one EOS coin is trading at $0.96 which is at a gain of 2.24% in the last 24hrs. The coin has a trading volume of 238 million which is at a gain of 6.86% in the 24 hrs trading session and a market cap of 955 million. The volume market cap ratio is 0.2498.
What do Technical Indicators Suggest for EOS
The EOS bulls have started pumping the volume which will help the price to recover.
The technical indicators like MACD indicates initiation of a bullish movement further as we can observe the MACD line is moving above the MACD signal line with small-small green histograms rising.
In support of the above the relative strength index is also moving up showing the increase in buyings.
The RSI value for EOS is above 35.
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Conclusion
The EOS price is suffering between the battle of bulls and bears over the daily chart. The bulls need to speed up regarding the recovery as the EOS price is moving at its all time low. The technical indicators are bending over the bullish movement. If the coin somehow manages to attract some more buyers it will be a bit easy for price recovery.
Technical levels
Resistance levels: $1 and $1.15
Support levels: $0.90 and $0.81Technical levels
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational ideas only, and they do not establish the financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.
