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EOS price falls to $2.44, what to expect?

EOS price falls to what to expect

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

EOS price chart 1 - 16 July

EOS price chart by Trading View

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.

EOS price chart 2 - 16 July

EOS price chart by Trading View

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.

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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