On the 30th of July, the EOS price line moved across the $3.02 mark while it traded within the day’s range of $2.958 to $3.039. It seems that major altcoins are in the bullish run uplifting the cryptocurrency market as a whole.
1-Day EOS price analysis
EOS approached a day’s low of $2.958 at 6:00 GMT, while it reached a day’s high of $3.039 near 14:20 GMT. At the time of writing, the cryptocurrency was observed trading at $3.016 US Dollars.
EOS price to see $3.1 in the long term?
The Trading View analyst Rocket Bomb suggested on the 22nd of July that the EOSUSD pair will rise past the $3.1 mark. The analyst performed the technical analysis for the trading pair using the 1-Day chart for EOSUSD.
The stop-loss order was marked below $2.2 for this trade, and the buy zone was indicated between the $2.45 and $2.66 levels. The first target price was placed at $2.749, which was approached on the 25th of July, while the second target price at $2.934 was met by the EOSUSD pair on the 28th of July. Finally, the cryptocurrency completed this trade by reaching the $3.118 level on the 29th of July.
EOS breaks above the rectangle pattern
The Trading View analyst Cparus suggests that EOSUSD will break upwards from the rectangle trading pattern.
The rectangle pattern was formed between the $2.32 and $3.00 levels, while the cryptocurrency had been trading between this channel from the 5th of April, 2020. The analyst believed that the EOSUSD pair would close near the $3.00 mark after breaking above the 200-Day Moving Average (MA).
On the 30th of July, the 200-Day MA was observed closing at $2.98, while EOS moved past the $3.00 mark near 13:40 GMT. This shows that the trade completed on the 30th of July, and the cryptocurrency successfully broke above the upper boundary of the rectangle pattern.
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.