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EOS price looks towards a momentum shift near $2.5

EOS price chart June

The EOS price trajectory showed a lot of up and down movement on the 19th of June. On the daily chart, the cryptocurrency showed excessive noise, while it traded within a day’s range of $2.517 — $2.527.

1-Day EOS price analysis (19th June)

EOS price chart 1 - 19 June

EOS Price Chart by Trading View

The Relative Strength Index (RSI) rose to 82.01 at 09:05 GMT. This shows that the EOS coin was overbought at the time. The level 24.03 on the RSI scale was the lowest value for the technical indicator on the 19th of June. At the time of writing, the RSI indicator was observed at 55.21.

EOS price; layered symmetrical triangles?

Bixley is a TradingView analyst who has drawn the triangle pattern, inside a bigger triangle pattern on the EOSUSD charts.

EOS price chart 2 - 19 June

EOS Price Chart by Trading View

The analyst believes that the cryptocurrency is in good shape and the EOSUSD pair is looking towards breaking above the inner triangle. If the momentum is strong enough, the breakout will allow the coin’s price to reach the $2.7 level. These are layered symmetrical triangles and these indicate a long trade for the cryptocurrency.

EOS price movement; a momentum shift?

Kojo Pips is another TradingView analyst. The crypto analyst has suggested that the EOSUSD pair will see a short.

EOS price chart 3 - 19 June

EOS Price Chart by Trading View

As per the analyst, the EOSUSD pair will move towards the $2.41 mark as the bears move in. The analyst explained that the bullish movement has stopped for now, and this may turn the EOSUSD market bearish. If the momentum shift occurs comes into play then EOS should see a short towards the $2.41 mark.

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.

Taha Farooqui

Taha Farooqui

Taha specializes in copywriting & translating texts. He aims to cover cryptocurrencies & blockchain in both English and local dialects in the Middle Eastern regions. He has helped write, translate, and localize the material related to cryptocurrencies and blockchain.

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