The EOS price line falls towards the $3.60 mark after trading near the $3.80 level for most of the day. The cryptocurrency traded in a day’s range of $3.576 — $3.644. Trading view analyst nagihatoum believes that the cryptocurrency is set to complete a head and shoulders pattern that is currently forming.
1-Day EOS Price Analysis (07th March)
The EOS price line began the day’s trade near the $3.850 mark, after which it gradually moved down to the $3.80 mark. The trading pair was seen with dishevelled price movements at the $3.80 level until after 16:40 GMT when the price saw a bearish downtrend and fell below the $3.70 mark. Closer to the end of the day, the cryptocurrency’s price line travelled towards the $3.60 mark.
The price line has stayed near $3.60 until the time of writing, where the cryptocurrency trades at $3.601 US Dollars.
EOS: predictive analysis
The chart posted below shows an incomplete head and shoulders pattern formed with its head at the $5.5608 mark.
The crypto analyst suggests that a head and shoulders pattern should form after a short term uptrend is completed. However, the head and shoulders target is expected to be $1.55.
Featured Image by Julian Hochgesang.
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.