As Bitcoin broke past the descending channel and moved upwards to the $9200 level, the EOS price followed BTC’s trend and observed and uptrend on the 27th of May. The cryptocurrency rose across the $2.560 level, while it traded within a day’s range of $2.555 — $2.572.
1-Day EOS price analysis (27th May)
The EOS price line stepped onto the chart for the 27th of May near the $2.500 level. The cryptocurrency traded below the $2.510 mark until after 10:00 GMT when EOS observed a bullish momentum and moved across the $2.550 mark.
EOS observed a day’s high of $2.572 near 17:30 GMT, while it traded between $2.540 and $2.570 for the rest of the day. At the time of writing, EOS was observed trading at a price of $2.564 US Dollars.
EOS: technical indicators
The moving average technical indicators gradually moved up on the charts for the 27th of May. The moving averages lay below the $2.510 level at the beginning of the day, while they jumped across the $2.550 level after 10:00 GMT as the EOSUSD trading pair climbed the price chart.
The 20-Day Exponential Moving Average (20EMA) and the 50-Day Moving Average (50MA) can be seen varying between the $2.550 and $2.570 levels for the rest of the trade. The 20EMA closed at $2.564, while the 50MA closed just below the 20EMA, at $2.563.
The Relative Strength Index (RSI) kept above 50.00 through most of its 24-hour scale. The RSI moved to a high of 87.49 at the time the cryptocurrency turned bullish. This shows that EOS was briefly overbought at that time. The lowest value for the technical indicator was 23.02. At the time of writing, the RSI for EOSUSD was observed to be at 52.42.
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.