- EOS/USD has been trading in a bullish trend on the 5-day EOS price analysis chart
- Price attempting to break above the recent all-time high.
- The Balance of Power indicator has been generally positive, indicating that the buying strength is more than the selling preasure.
- The general view of the cryptocurrency heat map is bullish.
EOS price analysis: General price overview
The EOS/USD has been trading in a bullish trend on the five-day EOS price analysis chart, with prices attempting to break above the recent all-time high.
EOS/USD started the daily price analysis chart with a weak bullish momentum at the intraday high of $5.4, where the sellers caused a strong resistance making the price decline sharply. Bulls created support at $5.3 to reverse the bearish trend.
The support was not strong enough to push the bulls to the intraday high. The EOS/USD pair traded in a moderate momentum as the bulls searched for stable support to push it higher. The buyers created solid support at $5.1. The support made the bulls surge up to $5.3, where the sellers concentrated, creating a strong resistance that the bulls could not break. Past the resistance.
The general view of the cryptocurrency heat map is bullish. This is because most parts of the cryptocurrency heat map are green.
Bitcoin was having terrible early trading hours as it dropped slightly below $49K before the bulls gained the upward momentum to send the prices up to $50K at the time of writing. The second-largest virtual asset has been trading in a pleasing trend throughout the week, and it seems like it is likely to attain its $4K target in a few hours from now. The Binance coin is also trading in a positive trend with a less than 1 percent gain.
Most altcoins are enjoying significant surges; PROM appears at the top of virtual currency gainers with a 58.47 percent gain; on the other side, CPAY leads the list of losers, having recorded a 25 percent decline.
EOS price movement in the last 24 hours: Bull run continues
EOS has been trading in a bull momentum on the daily price analysis chart as the green candlesticks have outnumbered the red ones. The bull trend seems to be so strong as we enter into the weekend as per EOS price analysis. The coin is likely to trade in the same trend over the weekend before bears invade the market on Monday.
The Moving Average (MA) indicates that the market has been trading in bullish momentum in the last week, and the bull trend does not seem to be ending anytime soon as bears are very weak to overturn the bull trend. The Balance of Power indicator has been generally positive, indicating that the buying strength is more than the selling pressure.
EOS/USD 4-hour chart: EOS rallies above $5.3
On the four-hour EOS price analysis chart, the market has regained bullish momentum, which saw the price rising past the intraday high of $5.3, and it has now set a new intraday high of $5.4.
The Bollinger band is widening; this is a positive signal indicating the bull dominance is set to continue. This is likely to trigger a surge that could see the price of EOS/USD at $7 before the weekend ends.
EOS Price Analysis: Conclusion
The RSI indicator is moving towards the overbought region on the one-hour EOS price analysis chart. This solid bullish signal suggests that the buying pressure is increasing, making the EOS/USD spike to $7 before next week.
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