While EOS price fell towards the $2.47 level on the 24th of June, the bulls and the bears appear to be at a stalemate for the EOSUSD pair.
In one of their recent ideas, MartyBoots the TradingView analyst believes that the trading pair might see a 50% uptrend in the next 6 months. The analyst discussed that this idea may come into play if the bulls take over the market.
1-Day EOS price analysis (24th June)
EOS was priced near the $2.58 level at the start of the 24th of June. The price line gradually moved to a day’s high of $2.596 US Dollars, after which it showed a sudden fall towards the $2.52 level. Gradually, the price further lowered towards the $2.48 mark. At the time of writing, the EOSUSD pair was observed trading at $2.477 US Dollars.
EOS movement; technical indicators
EOS Price Chart by Trading View
On the 24th of June, the 20-Day Exponential Moving Average (20EMA) closed at the $2.471 level, while the 50-Day Moving Average (50MA) was observed at $2.473 at the time of writing. The moving averages depict a fall after the near 07:00 GMT, after which the EOSUSD pair can be observed falling towards the $2.48 mark.
The Relative Strength Index (RSI) fell to a day’s low of 9.16 at the time the cryptocurrency turned bearish. This means that EOS was highly oversold at that instance. At 10:36 GMT, the RSI fell towards another low of 10.33, after which it returned towards above the 50.00 level. At the time of writing, the technical indicator was at 60.42.
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.