While BTC is expected to observe a price dump in the near future, the altcoins are expected to follow the king of cryptocurrency.
The EOS price line was observed traded about the $2.52 level for the 24-hour trade until the price became bearish after 12:00 GMT on 20th June. The EOSUSD pair moved towards the $2.48 range.
1-Day EOS price analysis (20th June)
On 19th June, EOS observed a ruffled price pattern, and gradually it came to rest near the $2.52 level. This trading pattern continued until after 06:00 GMT on 20th June, after which the pair observed a bearish momentum.
Just before noon on the daily charts, EOS abruptly fell to a low of $2.472 US Dollars. The price recovered after a brief moment and rose back above the $2.51 level. As the day proceeded towards the evening, the price observed another fall towards the $2.47 mark. At the time of writing, the cryptocurrency was observed trading at $2.487 US Dollars.
EOS price; technical indicators
The technical indicators depicted a price fall on the 20th of June. The 20-Day Exponential Moving Average (20EMA) closed at $2.485, and the 50-Day Moving Average (MA) closed at $2.481.
The Relative Strength Index (RSI), at 11:15 GMT, dropped to 12.76 on its scale. Such a low value for the indicator shows that EOS was oversold at the time. For most of the day, the RSI indicator was observed varying near the 50.00 to 60.00 range.
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.