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EOS price approaches $3.8, what to expect?

EOS price approaches what to expect

The EOS price line rose above the $3.8 level on the 15th of August. The cryptocurrency closed the day’s trade with a price just above the $3.7 level.

1-Day EOS price analysis

EOS price chart 1 - 15 August

EOS price chart by Trading View

After starting the day with a price below the $3.3 mark, the cryptocurrency traded near the $3.3 to $3.4 zone until 15:00 GMT, after which the price line rose past the $3.7 mark. At the time of writing, EOS stood at the $3.773 mark.

What to expect from EOS price?

The Trading View analyst Dlavrov believes that EOSUSD may see an uptrend after a good consolidation period.

EOS price chart 2 - 15 August

EOS price chart by Trading View

In their technical analysis of the EOSUSD trading pair, the analyst explained that the price reversals that occur from the support zone that was formed by the Moving Averages and the $3 support will be good for the cryptocurrency’s price for its long positions.

While discussing when to buy the asset, the analyst said that if traders missed the opportunity to buy EOS during the buy signals that appeared in the direction of the main trend, then they should not begin to chase the price at this point.

Such buyers should wait for any price reversals and then enter this trade. For EOS, the nearest resistance level lies at the $4 mark. The cryptocurrency may observe a price reversal near this zone along with a correction. Otherwise, if the price reversal occurs from the $3.5 or $3.3 zones, then that may play its part for to open up to long positions for the trading pair.

Disclaimer: The information provided is not trading advice but an informative analysis of the price movement. Cryptopolitan.com holds no liability towards any investments based on the information provided on this page.

Taha Farooqui

Taha Farooqui

Taha specializes in copywriting & translating texts. He aims to cover cryptocurrencies & blockchain in both English and local dialects in the Middle Eastern regions. He has helped write, translate, and localize the material related to cryptocurrencies and blockchain.

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