EOS price analysis: Bullish rally continues as price advances to $2.50 peak

EOS price analysis Bullish rally continues as price advances to peak

TL;DR Breakdown

  • Resistance for EOS/USD is present at $2.55.
  • The EOS price analysis is bullish.
  • Support for EOS is at the $2.42 level.

The EOS price analysis is bullish today as it indicates a sharp rise in the price levels. The coin is showing good bullish price action from 12th April as the price trend line has been steeply upwards as the coin is recovering at a fast pace. The coin has successfully broken past the $2.41 hurdle and is testing $2.50 resistance at the moment. If bulls break above this resistance in the coming hours, then the next resistance will be at $2.55.

EOS/USD 1-day price chart: Cryptocurrency keeps improving as bulls show momentum

The 1-day EOS price analysis shows an increase in price today as the bulls are performing really well if compared to other coins, with the price reaching the $2.50 level. The coin has gained a good value of 5.55 percent during the last 24 hours, which puts it among the highest gainers. The coin is also reporting a 2.98 percent increase in value over the past week. The bullish curve has become relatively steady as the EOS value has recovered at a good scale, which is positive news for the buyers.

EOS price analysis: Bullish rally continues as price advances to $2.50 peak 1
EOS/USD 1-day price chart. Source: Tradingview

The volatility is high, and further increasing, the expansion of the Bollinger bands, has resulted in its upper band reaching the $3.08 level and the lower band reaching the $2.08 level. Lastly, the Relative Strength Index (RSI) has also improved today, as it has climbed past the centerline of the neutral zone to index 52 on a sharp upwards curve, hinting at the buying activity in the market. The moving average (MA), after traveling downwards, has also readjusted itself at the $2.35 mark, below the price level.

EOS price analysis: Recent developments and further technical indications

The 4-hours EOS price analysis indicates a high increase in the price level as the price is now touching $2.50 due to the strong bullish activity of today. Currently, the price is correcting, but the correction is expected to be on the lower side as a correction was also observed late at night, which could not last long, and the current correction might end with the same result.

EOS price analysis: Bullish rally continues as price advances to $2.50 peak 2
EOS/USD 4-hours price chart. Source: Tradingview

The moving average on the 4-hours price chart is present at $2.42, whereas the Bollinger bands average is present at $2.38 below the MA. The increase in volatility has also been observed as the Bollinger bands show signs of divergence. The upper limit of the volatility indicator is at $2.51, representing the current resistance for EOS, and the lower band is at $2.21.

EOS price analysis conclusion

The EOS price analysis suggests a bullish trend, and the momentum is getting stronger day by day. The current correction observed on the 4-hour price chart seems to end soon, and we expect EOS/USD to continue further upside and challenge the $2.54 resistance later today; even a break above also seems possible.

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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