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EOS price analysis: Bullish momentum heightens as EOS climbs $5.42 peak

EOS price analysis Bullish momentum heightens progressively to peak

TL;DR Breakdown

  • EOS price analysis reveals that bulls are slowly fighting back for superiority.
  • The figures are present at $5.4 for the bulls.
  • Strong resistance is blocking momentum at $5.89.

EOS/USD 1-day price chart: EOS reduced to $5.42 range

The 1-day price chart showing the cryptocurrency report is indicating a surprising drop in the price levels today. The bears have been able to break past the barrier created by the buyers and have lowered the value to $5.43. This value is still ahead of the moving average (MA) of today i.e. $5.34, as the majority trend observed during the past week has been bullish. The gap between Bollinger bands is widening which means that the current trend will intensify.

EOS price analysis: Bullish momentum heightens as EOS climbs $5.42 peak 1
EOS/USD 1-day price chart. Source: TradingView

The other values related to Bollinger bands are here; the upper band has reached $5.89 of value whereas the lower band is touching $3.73 value. The Relative Strength Index (RSI) score is 64.43 which is still acceptable as it is towards the buyers’ side.

EOS price analysis: Bullish momentum bounces back to $5.43 after bearish strike

The 4-hours price chart is indicating that cryptocurrency has gone through an uplift which has taken price value to $5.43. The last hours have been critical for the price as the bearish candlesticks continued to grow in momentum. Yet, in this hour, the price has gone through a major shift as it has crossed the moving average value which is $5.38. The Bollinger bands are showing support for cryptocurrency as the upper value has reached $5.42 and the lower value has reached $4.74.

EOS price analysis: Bullish momentum heightens as EOS climbs $5.42 peak 2
EOS/USD 4-hours price chart. Source: TradingView

The RSI score is also increasing slowly and is currently showing a score of 56.43. Meanwhile, another important indicator which is the Bollinger bands average is at a $5.18 value according to the 4-hours EOS price analysis.

EOS price analysis: Bullish momentum heightens as EOS climbs $5.42 peak 3
EOS/USD technical indicators chart. Source: TradingView

The decisive trend for today has been largely bullish in momentum, as the above summary is relating. The summary further tells us about the indicators, and currently, there are 15 indicators at the buying position, 10 at the neutral, and only one is at the selling position.

The Moving Averages indicators are also towards the buying side, with a total of 14 indicators are found at buying position, one at the neutral, and none at the selling position. The last indicators are the oscillators, which are highly neutral for today with nine indicators at the neutral position, and one indicator is present at the selling and buying point each.

EOS price analysis conclusion

From the EOS price analysis, it can be inferred that the trends have been greatly in favor of the bulls. The price has reached $5.42 today, as the buyers have contributed well enough to make this possible. The support levels have also been understanding i.e. $4.74 which gave the bulls an edge to move forward easily. The resistance at $5.62 is almost near the actual price value and can be crossed soon as per the predictions.

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.
Aamir Sheikh

Aamir Sheikh

Amir is a media, marketing and content professional working in the digital industry. A veteran in content production Amir is now an enthusiastic cryptocurrency proponent, analyst and writer.

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