EOS price analysis: EOS jumps to $1.17 as bullish momentum takes over

EOS price analysis: EOS jumps to $1.17 as bullish momentum takes over
TL;DR Breakdown
  • The EOS price analysis shows a strong bullish trend.
  • Resistance for EOS/USD is present at $1.24.
  • Support for EOS is present at the $1 level.

The EOS price analysis shows strong bullish momentum, despite the bears being at the upper hand previously. The buying momentum has overpowered the market with a greater tendency towards buying more assets. This scenario has resulted in an increase in price levels to $1.17 value, with the support levels observed to be $1 for today.

EOS/USD 1-day price chart: Tremendous increase in price as bulls regain momentum

The daily EOS price analysis is giving the bulls a lead as the price levels jumped to $1.17 after a strong bullish rally. This has surprised the analysts and turned many towards the buying side after the sudden shift in the market trend. The coin gained a good 12.9 percent value during the last 24 hours, and the profit gain equals 20 percent if observed over the past seven days. The calculated moving average (MA) over the past week has been $1.03, which has been going up during the past week. The average value of the Bollinger bands (BB) is present at the $1.00 mark.

eos 1 day
EOS/USD 1-day price chart. Source: Tradingview

The volatility for the candlestick chart is gradually increasing as the upper limit of the Bollinger bands reaches the value of $1.12, and the lower one goes down to the $0.89 level representing the strongest support. At the same time, the price has shooted past the upper band, which is a strong bullish indication.

The Relative Strength Index (RSI) is showing a score of 65, which is moving towards the over-bought limit, as the past week has been favorable for cryptocurrency, and an overwhelming buying activity has taken over the market today.

EOS price analysis: Recent developments and further technical indications

The 4-hour EOS price analysis shows a sharp increase in the EOS coin value as the price has reached $1.17 $5.61. The weekly analysis is also in favor of bulls as it tells that the buyers have dominated the market and helped the cryptocurrency rise slowly. Today’s case has proved to be the same, rather much more overwhelming, as the Moving Averages (MA) has moved up to $1.07.

eos 4 hour
EOS/USD 4-hours price chart. Source: Tradingview

The future trends can be positive for the buyers, as the volatility is increasing in the candlestick chart. Meanwhile, the values of the Bollinger bands are as follows; the upper value is at the $1.14 mark, whereas the lower value is present at the $0.98 mark. The RSI score is 73 in the 4-hour chart, which may raise more in the future depending upon the circumstances.

EOS price analysis Conclusion

From the above EOS price analysis, it can be inferred that today’s trend has proved to be in favor of the buyers as the price levels increased tremendously to $1.17 during the day. Both the 1-day and 4-hours price charts have been showing strong support for cryptocurrency, as the price function has been headed upwards for the last 16 hours. Though the coin is a bit oversold on the hourly chart, overall circumstances seem friendly for the buyers.

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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