EOS price finds support between the $4.25 – $4.4 zone. Currently, the cryptocurrency rests near $4.3 after falling towards the $4.2 mark on the 16th of February.
Trading view analyst Husain Zabir believes that the altcoins are acting in the same way as the Bitcoin, thus EOSUSD may push the price up to $5 or higher.
1-Day EOS Price Analysis (17th February)
Currently, EOS trades with a day’s range of $4.038 — $4.419. The cryptocurrency had fallen to $4.021 on the 16th of February, after which it saw retracement towards the major support formed between the $4.25 and $4.4 levels.
At the time of writing, the 20-Day Exponential Moving Average (EMA) was placed at $4.364, while the 50-Day Moving Average (MA) was observed at $4.342. The third technical indicator, the Relative Strength Index (RSI), stood above level 50, at 53.09. The EOS / US Dollar trading pair closed this 1-Day price analysis with a trading price of $4.361 US Dollars.
EOS: Predictive Analysis
Like all the other top altcoins, EOS is also expected to follow the same path as the Bitcoin cryptocurrency. EOSUSD has found major support near $4.3.
Zabir is of the opinion that if the buyers take control of the EOS market from here, the cryptocurrency may push the price up to $5 or higher. In this way, EOS will see itself to a price reversal. The possible price reversal is seen as a line of arrows in the chart posted above.
Featured Image by Ussama Azam.
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.