TL; DR Breakdown
- 5-day price analysis chart began off with the bears controlling the market.
- The RSI is at 60, and it points towards the overbought region.
- The MACD line repeatedly crossed over the red line on the four-hour price analysis chart.
EOS price analysis: General price overview
5-day EOS price analysis chart began off with the bears controlling the market. Strong pressure from the buyers caused the price to trade in an upward momentum facing slight bear resistance and picking off the bullish trend.
The Bollinger bands are wide most parts of the five-day price analysis chart, suggesting the coin is bullish in most trading sessions.
The EOS/USD pair maintained its upswing yesterday. However, the coin was in a powerful bear trend during yesterday’s EOS price analysis. This bearish movement reversed when the EOS/USD daily price analysis chart began, pushing prices upward and forming head and shoulder trends to the intraday highs at $4.7. It encountered
Sellers control the cryptocurrency space; as a result, most of the digital assets are trading in a bearish trend.
The largest digital currency, BTC, is trading a few dollars above $45K at a drop of more than one percent. Before the recent price dip occurred, Bitcoin was trading in a bullish trend, and it had surpassed its target of $50K. Bitcoin’s closest competitor ETH trades at $3.2K recording a more than three percent price drop from yesterday’s price. EOS/USD is also trading in the same trend recording a drop of more than one percent setting its price to $4.7.
EOS/USD price movement in the last 24 hours: bullish signal
EOS began the daily rice analysis chart in bullish momentum. The bulls caused the prices to move in an upward forming cup and handle trends. The Balance of Power indicator remained positive in most parts of the daily price analysis chart, suggesting the bulls’ pressure is so intense, and sellers seem too weak to battle the bullish trend.
Four-hour price analysis chart: Bull dominance
The RSI is at 60, and it points towards the overbought region. If the buyers manage to pass the 70 mark, the bears will have hard work of curbing the bullish trend that will set in.
On the four-hour price analysis chart, the MACD line has repeatedly crossed through the red line. This shows that buyers have been attempting to push back the bears for a long time before finally overcoming solid support that is aiding the rise.
EOS price analysis: Conclusion
The buyers have invaded the EOS/USD market, causing the price to surge in a slight bullish momentum.
The EOS price is an upswing, with the price action structure turning bullish again after a higher low was established near $4.5 in early trading hours. As a result, we anticipate that EOS/USD will rise over the weekend and attempt to break past the $5 current swing high.
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