Following the king of the cryptocurrency market, the altcoins see another bullish momentum over the 24-hour trade. While following Bitcoin BTC’s trend, EOS price moved across the $2.590 level on the 28th of May. The EOSUSD pair traded within a day’s range of $2.518 — $2.599.
1-Day EOS price analysis (28th May)
EOS price chart by Trading View
After the cryptocurrency rose across the $2.550 mark on the 27th of May, the EOSUSD trading pair kept trade about between the $2.540 and $2.570 levels until the end of the day. On the 28th of May, the cryptocurrency saw a mild bearish momentum, which caused it to drop towards the $2.520 mark.
In the afternoon of the 28th of May, EOS rose across the $2.590 level, and at the time, the RSI had moved above 70.00. The EOS/USD trading pair was observed at $2.580 at the time of writing.
EOS: long trade towards $2.800?
KlejdiCuni is a TradingView analyst who believes that the EOSUSD trading pair will see an uptrend across the $2.700 level.
EOS price chart by Trading View
As per the idea by the crypto analyst, the trade setup is long which is why it will take time to complete. Since the time of writing, the cryptocurrency has seen an increase of over 1.8% in its price. The idea seems to be in play.
The Relative Strength Index (RSI) moved to a high of 79.30 at the time the cryptocurrency moved towards the $2.580 mark. This shows that EOS was mildly oversold at that instance. At the time of writing, the RSI was observed at 40.32.
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.
