The EOS price line fell to the $3.2 level on the 21st of August. The crypto analysts from Trading View are of the opinion that the EOSUSD pair will soon see a rise across the $5 mark.
1-Day EOS price analysis
By the time of writing, the cryptocurrency’s price had fallen to the $3.28 mark. EOS had been seen at a day’s high of $3.62 US Dollars in the first quarter of the day’s trade.
What to expect from EOS price?
Kling On Warrior is a Trading View analyst who believes that the EOSUSD trading pair will soon turn bullish after it breaks out from a descending triangle.
The analyst highlighted the descending triangle trading pattern on the 1-Week chart for the EOSUSD pair, and the cryptocurrency entered this trading pattern near the start of May. The analyst suggested multiple reasons for why they think that the coin’s price will soon turn bullish.
Their first reason was that the cryptocurrency recently broke out of a descending triangle pattern. Secondly, EOS also observed a double bottom, where the price touched the bottom support of the triangle in the first week of February 2019, and the first week of May 2020.
The analyst added that the cryptocurrency is currently rebounding on the descending trend-line, and a retest of the breakout level here will be a good entry-level for the buyers. The final target price for this trading pattern is $9.68.
Will EOS rise to $5?
P55 is another Trading View analyst who believes that EOS is expected to exhibit a rise in its price ahead.
In their 1-Week analysis of the EOSUSD trading pair, the analyst stated that they expect EOS to gain 150% of its price and move towards the $5 level on the charts. The analyst marked the target price at $5.13 US Dollars.
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.