Like other altcoins, the EOS price has been following the Bitcoin cryptocurrency’s price trend. The coin had risen to a high above the $3.70 mark on the 27th of February.
The EOSUSD pair fell towards the $3.350 level on the 28th of February. Blockchain Bob is a trading view analyst who is of the opinion that the EOSUSD pair is to test the golden pocket.
Currently, the EOSUSD pair lies at the $3.61 mark, and trades within a day’s range of $3.343 — $3.680.
1-Day EOS price analysis (28th February)
The cryptocurrency appeared to have an uptrend on the 27th of February, while it fell short of the $3.600 mark right before it approached the chart for the 28th of February.
Shortly after a few hours into the new day, the EOSUSD pair saw a bearish momentum that led the price to a day’s low that was placed below the $3.350 mark. The coin saw some recovery above the $3.500 mark, while it currently stands at a trading value of $3.61 US Dollars.
EOS: predictive analysis
As per Blockchain Bob’s prediction, the cryptocurrency is expected to test the golden pocket if Bitcoin performs its correction at the 0.5 Fibonacci Retracement level.
The weekly 20-Day Moving Average, the daily 100-Day Moving Average, the support trendline from the low, the daily and the 50-Day Moving Average are the technical indicators that are found in the golden pocket zone.
The 20-Day Exponential Moving Average (EMA) is placed at $3.570 while the 50-Day Moving Average (MA) is found at the $3.550 mark. The Relative Strength Index (RSI) closes at the 52.95 mark on the scale.
Featured Image by Kai Oberhäuser.
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.