On the 16th of July, the EOS price line fell towards the $2.44 level. Project Syndicate, the crypto analyst from TradingView, is of the opinion that the cryptocurrency will observe an upside breakout and move above the $3 mark.
1-Day EOS price analysis
At the beginning of the day’s trade, the cryptocurrency was trading at the $2.53 mark, after which it moved to a day’s high of $2.557 US Dollars. After the first quarter of the day, EOS turned bearish and fell to a day’s low of $2.441 US Dollars. For the rest of the day, the EOSUSD trading pair can be observed trading between the $2.44 and $2.48 price levels. At the time of writing, EOS traded at $2.473 US Dollars.
What’s next for EOS price?
Project Syndicate is a TradingView analyst who is of the opinion that the EOSUSD pair will see a pump across the $3.0 level. The analyst performed their technical analysis for the trading pair on its 1-Day chart.
The analyst explained highlighted that the trading pair’s trajectory appears to compress into a descending triangle pattern while the cryptocurrency is approaching a low buying zone. The analyst has stated that the cryptocurrency’s price will see a reversal near the $2.31 and $2.33 levels, and they suggest that the traders should buy near the same price levels.
The target price for this trade has been shown with over 40% gains, in case the upside breakout takes place and the price line moves above the descending triangle pattern.
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.