TL; DR Breakdown
- Ten-day Moving Averages of the Bollinger bands offer strong resistance to the EOS/USD pair.
- The previous day’s EOS price analysis chart traded bullishly.
- Bulls are preparing for a surge.
EOS price analysis : General price overview
The previous day’s EOS price analysis chart followed a good trend. However, solid selling pressure halted the upswing when the daily rice analysis chart set in, causing prices to plunge sharply to the lowest level on the daily price analysis chart at $4.6. The bulls appeared to be strategizing an attack that might reverse the downward trajectory. The bulls congregated in large numbers and amassed sufficient force to establish firm support, which reversed the bearish trend and caused EOS to surge.
The most prominent digital asset, BTC, is trading positively today, as indicated by the cryptocurrency heat map. It is currently trading with a few dollars above $45K. ETH is trading in the same trend. The Binance coin is trading in a negative direction, recording a decline of more than 2 percent. Most of the altcoins trade in a negative trend.
EOS price movement the last 24 hours: EOS/USD trades in a Negative trend
The daily EOS price analysis chart reveals that the bears control the market after a head and shoulder movement, keeping the market hostage. The chart shows an increased degree of volatility, with the upper Bollinger band visible at $5.8, While the lower Bollinger band is marked at $4.04.
EOS/USD 4-hours price chart: confirming the red trend
The nine-day MA is located at $4.92, whereas the Bollinger bands’ average serving as the third resistance point is $4.62.
Ten-day Moving Averages of the Bollinger bands offer strong resistance to the EOS/USD pair. The Bollinger bands’ average is located at the $5.2 mark in the resistance zone, while the 9-day moving average is positioned at $4.9.
EOS price analysis: Conclusion
After a head and shoulder market pattern, the altcoin EOS hit a severe bearish trend. The bearish strike is expected to remain in place until the end of the day, and the existing support levels are likely to help the digital currency. The EOS/USD is anticipated to have another upswing in the days ahead unless the bears break the current support levels.
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