The EOS price line rose towards the $3.25 mark on the 7th of August. The coin’s price varied between the $3.05 and $3.25 levels over the day’s trade.
1-Day EOS price analysis
The cryptocurrency’s price stood right below the $3.1 level when the 7th of August started. EOS gradually made its way towards the $3.15 level, after which it turned bullish and rose to a day’s high of $3.247 US Dollars.
By noon, the price trajectory for the EOSUSD trading pair fell to the $3.2 mark, while it stepped down to the $3.15 level by 15:00 GMT. At the time of writing, EOS was observed trading at a price of $3.076 US Dollars.
Will EOS price exhibit an upward breakout soon?
The Trading View analyst Orcothunder believes that the EOSUSD pair is looking for an upward triangle breakout soon. The analyst drew the technical analysis for the trading pair on the 1-Day chart.
The analyst suggested that traders buy the cryptocurrency when it occasionally dips to the $3.09 mark. The cryptocurrency is expected to show higher highs and move towards the upper boundary of the triangle trading pattern shown in the chart above.
The analyst believes that the cryptocurrency will look towards an upward breakout, after which it is expected to jump towards the $4 mark. The Relative Strength Index (RSI) and the Average Directional Index (ADX) indicate an upcoming week of trade between the $3.1 and $3.3 levels for the trading pair.
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.