On the 6th of June, the EOS price line dropped towards the $2.779 level. The cryptocurrency traded above the $2.810 mark through most of the day’s trade, while EOS traded within a day’s range of $2.773 — $2.842.
1-Day EOS price analysis (6th June)
The cryptocurrency stood above the $2.800 mark at the beginning of the day, after which it traded between $2.810 and $2.840. On the evening of the 6th of June, the cryptocurrency’s price line fell below the $2.780 level and approached day’s low of $2.773 US Dollars. At the time of writing, EOS traded at $2.797 US Dollars.
EOS: fall next?
Inico11 is a TradingView analyst who believed that the EOSUSD trading pair would see a decline in its price. The cryptocurrency has moved below the $2.79 level over the past 24 hours.
Inico11 has set the stop-loss for EOSUSD at $2.72 while the trade appears to be active. The Relative Strength Index (RSI) moved to a low of 15.48 at 16:50 GMT. This depicts that EOS was briefly oversold at the time. The RSI was observed at 54.81 at the time of writing.
EOS price into a head and shoulders?
Cryptosuf is another TradingView analyst who believed that EOS will look towards a decline. The analyst has highlighted a head and shoulders pattern forming on the EOSUSD chart.
The head and shoulders pattern highlighted by Cryptosuf began forming on the 6th of April, while it should be completed if EOS exhibits a price fall towards the $2.400 level.
Disclaimer: The information provided is not trading advice but an informative analysis of the price movement. Cryptopolitan holds no liability towards any investments based on the information provided on this page.