The recent EOS performance may not have been anything to write home about in the grand scheme of things, but it still managed to remain one of the most stable altcoins in the market over the course of the last couple of days.
Despite the overall market sentiment for the short term being bullish, our EOS price analysis is indicating a bullish outburst for the mid and long terms, especially considering the consolidation that the coin recently managed from $3.88 to $4.275.
The 21 day MA is currently above the 7 day MA which indicates a bearish downfall in the next few days of trading, but as already mentioned the mid and long terms are like an anomaly for the current market reality and are promising some bullish fresh air.
The current supporting indicator for the bullish sentiment is the RSI which is heading upwards and promises significant consolidation after a slight market downturn.
The goal for bulls right now is to breach the $4.30 resistance and then go long for $4.40 if bears allow it.
EOS also has a history of defying the general market movements manufactured by Bitcoin, which is a great supporting skillset. Seeing how BTC price can go either way towards $7,500 or $11,000 in the nearest future, we can see EOS defining its dominance and taking its own route with a fresh bullish burst.