As the altcoins continue to follow Bitcoin’s price trend for the 9th of May, EOS price followed BTC’s bearish momentum and fell to the $2.300 mark. The cryptocurrency traded within a day’s range of $2.168 — $2.754.

1-Day EOS price analysis (9th May)

EOS Price Chart by TradingView

The cryptocurrency moved alongside Binance Coin BNB and Bitcoin Cash BCH while following Bitcoin BTC’s trend for the day. EOS kept its price line between the $2.750 and $2.800 levels on the 9th of May.

As soon as the trading pair approached the price chart for the 10th of May, the cryptocurrency turned bearish and fell to a day’s low of $2.300 US Dollars. The Relative Strength Index (RSI) exhibited a bearish divergence at the time of the fall. At the time of writing, EOS traded at $2.466 US Dollars.

EOS: technical indicators

EOS Price Chart by TradingView

The moving average technical indicators drew straight paths on the full-featured chart for the 9th of May. The straight paths depict that the cryptocurrency was stable near the $2.800 mark until after it reached the 10th of May.

At the time when the EOSUSD pair fell bearish, the moving averages fell as well. The 20-Day Exponential Moving Average (EMA) closed at $2.456, while the 50-Day Moving Average (MA) saw the day’s closure at $2.470.

The Relative Strength Index (RSI) saw a bearish divergence on the start of the 10th of May. As seen in the full-featured chart above, the RSI fell to a low of 1.72 at that time, which shows that EOS was extremely oversold. At the time of writing, the RSI stands at 43.02.

Featured Image by pixabay.

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.

This post was last modified on August 2, 2020 7:04 am