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EOS price falls below $3, price pump ahead?

EOS price falls below price pump ahead

The altcoin market receded in the afternoon of the 9th of August, where the EOS price fell towards the $2.98 mark. Francis Petkovich is a crypto analyst who believes that the EOS price will see a price pump soon.

1-Day EOS price analysis

EOS price chart 1 - 9 August

EOS price chart by Trading View

The EOSUSD pair rose to a day’s high of $3.085 US Dollars, after which it gradually made its way towards the $3.04 mark by noon. After 12:00 GMT, the cryptocurrency fell to a day’s low of $2.954. At the time of writing, EOS traded at $2.996 US Dollars.

What to expect from EOS price?

The Trading View analyst Francis Petkovich is of the opinion that the EOSUSD trading pair will rise above the $3.1 level soon.

EOS price chart 2 - 9 August

EOS price chart by Trading View

Petkovich explains that EOS is one of the major altcoins, and it still has not observed a price pump in this altcoin season, which is why the analyst believes that EOS will undergo a price pump after it shows a false price breakdown. The Moving Average Convergence Divergence (MACD) technical indicator has shown a flatlining, which means that the cryptocurrency’s price is about to turn volatile.

The analyst expects the price line to rise towards above the $3.1 mark and travel to $3.19 while the $2.9 to $3.1 range will act as support for the cryptocurrency.

The stop-loss for this trade was kept at $2.8 by the analyst. If this idea takes place, the cryptocurrency’s price is expected to initially rise towards the $3.2 level.

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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