logo

EOS price falls below $2.790: head and shoulders next?

EOS price falls below head and shoulders next

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)

EOS Price ChartEOS Price Chart by Trading View

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.

EOS Price Featured ChartEOS Price Chart by Trading View

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.

EOS Price Featured ChartEOS Price Chart by Trading View

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.

Johnson Go

Johnson Go

Blockchain enthusiast, project management specialist, writer and crypto investor. JG deals mostly with problems and solutions of crypto projects and provides market outlook for investments. He contributes his analytical skills to projects.

Related News

Hot Stories

Litecoin price analysis: LTC recovers to $62.23 as bullish impulse returns
bitcoinblack’s crypto credit card is becoming High-Net-Worths #1 choice for crypto to fiat conversion
Solana price analysis: SOL starts recovering as the price rises to $44.1
Bitcoin, Ethereum, Waves, and Stacks Daily Price Analyses – 16 August Roundup
Cardano price analysis: ADA holds uptrend intact above $0.55 support

Follow Us

Industry News

Best Twitter thread of the day - August 16th
Top tweets of the day - August 16th
Crypto lender Hodlnaut appeals for creditor protection in Singapore
Best Twitter thread of the day - August 15th
Gold tokenized in Brazil: Legislative official proposes crypto project