$ 1,229.38 2.13%
$ 41.14 0.63%
$ 0.073037 9.31%
$ 5.20 17.44%
$ 21,400.00 0.84%
$ 240.69 2.48%

EOS price analysis: EOS to break $5.20 after bearish strike

EOS price analysis EOS to break after bearish strike

TL;DR Breakdown

  • EOS price analysis reveals a bearish strike in control during the past 24-hours.
  • EOS is struggling to break past the $5.20 psychological barrier.
  • Strong support is found at the $4.92 level.

EOS price analysis reveals that the cryptocurrency has been overpowered by a bullish strike that started on the 25th of August. The strong drop in the price happened at the time when the market turned bearish as a whole. In the past 12 hours, the EOS price has been struggling to stay afloat above the $5 psychological barrier, and strong support has been found at the $4.92 level.

EOS price analysis reveals bearish control on the 1day chart

The EOS price analysis on the one-day candlesticks chart reveals that the bulls have been in control of the cryptocurrency for as much as the past 12 hours. The cryptocurrency is hovering near the $5.20 mark but unable to break past that threshold until at the time of writing. The volatility is also increasing compared to the past few days, and the upper Bollinger band is found at the $5.90 mark, while the lower Bollinger band is found at the $4.19 mark.

EOS price analysis: EOS to break $5.20 after bearish strike 1
EOS/USD 1-day price chart. Source: Trading View

Interestingly the Bollinger bands base value of $5.05 is serving as strong support for the cryptocurrency, whereas the nine-day moving average (MA) value of $5.26 is serving as the strong resistance for EOS. The relative strength index (RSI) score of 55.62 is favoring the cryptocurrency with ample margin for traders to buy in on EOS to change the trend in favor of bullish momentum.

EOS/USD price on 4-hours chart reconfirms the struggle against bears

On the four-hour candlestick chart, EOS price volatility is slightly decreased with the upper Bollinger band value at the $5.78 mark while the lower Bollinger band is at the $4.91 mark; however, the volatility is still relatively increased than the past few days. EOS price stands at the $5.16 mark at the time of writing.

EOS price analysis: EOS to break $5.20 after bearish strike 2
EOS/USD 4-hour price chart. Source: Trading View

The Bollinger band average on the four-hour chart stands higher than the daily chart at a value of $5.34, serving as strong resistance, while the moving average of $5.12 is serving as the strong support. Here, the RSI score is once again favoring the cryptocurrency with a low value of 44.80 that can allow traders to take the cryptocurrency bullish with a good buying trend.

Out of the 26 total technical indicators, as many as 11 are giving off a buying signal; nine are neutral while only six are on a selling signal. Here, out of the 15 moving averages, as many as 10 indicate a buying signal, one is neutral, and four are giving a sell signal.

EOS price analysis: EOS to break $5.20 after bearish strike 3
EOS/USD price technical indicators. Source: Trading View

On the other hand, as many as eight oscillators are standing neutral, with one indicator standing at the buying signal and two indicators standing at a selling signal. The overall market trend is of buying.

EOS price analysis conclusion

The EOS price analysis reveals that the cryptocurrency is going through a bearish struggle to break past the $5.20 mark. If the current support levels persist, EOS is likely to retest the price barrier to further retest the $5.30 resistance level. If the support fails, the cryptocurrency is likely to dip down further. At the time of writing, the buying trend seems to be the major driving force that can take the cryptocurrency out of the current ditch.

Disclaimer. The information provided is not trading advice. 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. 

Arnold Kirimi

Arnold Kirimi

Arnold is a crypto and blockchain enthusiast. A communications expert with interest in hard-hitting journalism, he is always on the hunt for the latest events in the cryptocurrency world. He is inspired by what Bill Gates said, “Bitcoin is a technological tour de force.”

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