Ethereum
$ 1,229.17 1.13%
Solana
$ 41.03 0.90%
Dogecoin
$ 0.077159 9.25%
ApeCoin
$ 4.92 5.09%
Bitcoin
$ 21,431.00 0.09%
BNB
$ 240.25 0.04%

EOS price analysis: EOS breaks at $3.8 as bulls report 16 percent gains

EOS price analysis EOS breaks at as bulls report percent gains

TL;DR Breakdown

  • The EOS price analysis is highly bullish.
  • Support for EOS is present at $3.5.
  • Strong resistance is found at $3.9.

The EOS price analysis indicates a sharp rise in the price levels as the bulls have shown tremendous performance during the past few hours. The last hours have seen a comeback from the bulls again as bears took the lead in between.

Bulls had successfully recovered the loss incurred on 4th December when the market crashed. The bullish momentum for today has been strong enough to take the price levels to the $3.8 level. Further analysis shows that the support is strong enough, and bulls have pushed through $3.79 resistance and are aiming for the price levels to push past the $3.9 hurdle in the future as well.

EOS/USD 1-day price chart: Price levels have reached a high resistance zone

The 1-day EOS price analysis shows a commendable rise in the price value today as the coin has rallied high, and the rally still continues with the price reaching the $3.8 level. If a comparison is made with the past week. The bullish curve has become relatively steady as the EOS value has increased to meet the level of the pre 4th December flash crash, which in itself is a huge achievement.

EOS price analysis: EOS breaks at $3.8 as bulls report 16 percent gains 1
EOS/USD 1-day price chart. Source: Tradingview

The bullish momentum has been huge as the price has even crossed up the Moving Average (MA) value which is currently present at $3.5. Moreover, as the volatility is increasing, and the Bollinger bands average has settled at $3.8.

The expansion of the Bollinger bands has resulted in its upper band reaching the $4.6 level and the lower band reaching the $3.1 level. Lastly, the Relative Strength Index (RSI) score has seen a remarkable rise today, as it has climbed past from the border of the oversold zone to index 47 in the neutral zone on a sharp upwards curve, hinting at the intense buying activity in the market.

EOS price analysis: Recent developments and further technical indications

The 4-hours EOS price analysis indicates a steep surge in the price level as a larger green candlestick can be seen on the chart due to the strong bullish activity of today. The bullish momentum has taken the price to $3.8, which is a huge achievement for the day.

The moving average in the 4-hours price chart is resting at $3.39, whereas the Bollinger bands average is set at $3.22. The increase in volatility has also been observed as the Bollinger bands started to expand vastly today as the price made a jump high.

EOS price analysis: EOS breaks at $3.8 as bulls report 16 percent gains 2
EOS/USD 4-hours price chart. Source: Tradingview

Moreover, the upper and lower extreme ends of the Bollinger bands are now present at $3.7 for the upper band, also representing support for the coin, and $2.7 for the lower band, covering a larger area on the charts. The RSI has also reached index 65 near the border of the overbought region on the 4-hour chart, and the RSI is showing no signs of cooling down as of yet.

The EOS/USD technical indicators for today are still mostly on the bearish side, despite the fact that the dominant trend for today has been largely bullish. There are only five indicators giving buy signals, 10 indicators standing neutral, and 11 indicators showing sell signals. This is mainly due to the bears at lead previously for the past few weeks.

EOS price analysis: Conclusion

The given 1-day and 4-hours EOS price analysis indicates that the bullish momentum has gained sufficient strength in the past hours. The bulls have paved the way for the price to go above $3.8, and further recovery is also expected, as well as the bulls have been making progress in the last four hours as well. We expect the EOS to continue upside for today.

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.

Related News

Hot Stories

Ripple price analysis: XRP/USD set to break above $0.54 overnight
Could You Become A Millionaire By Adding These Cryptocurrencies To Your Portfolio - Polkadot (DOT), And Logarithmic Finance (LOG)
Shiba Inu price analysis: SHIB continues to rise with $0.00001350 in sight
Ethereum price analysis: ETH swiftly breaks $1,250, strong upside next week?
The Crypto Coins That Will Make a strong Impact In 2023: CashFi (CFI), Polkadot (DOT), and Huobi Token (HT)

Follow Us

Industry News

Anonymous plans to bring Do Kwon to justice
Mastercard survey: 50% of Latin Americans use crypto
Margin calls and bot liquidations add chaos to crypto as its market cap hits $964b
Bitpanda lays off workers amid the market decline
Coinbase to launch Nano BTC features aimed at retail traders on June 27