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EOS price moves past $2.6, what’s next?

EOS price moves past what s next

On the 8th of July, while following the BTC price movements, the EOS price approached the $2.70 mark. At the time of writing, EOS traded at $2.667 US Dollars.

1-Day EOS price analysis (8th July)

EOS price chart 1 - 8 July

EOS Price Chart by Trading View

At the beginning of the day, the cryptocurrency stood below the $2.56 level, after which it gradually moved past the $2.62 mark within the first quarter of the day’s trade. As the day proceeded, the cryptocurrency made its way past the $2.66 level, and in the afternoon, the price line approached a day’s high of $2.703 US Dollars.

What to expect from EOS price?

Ikhoshnawi is a TradingView analyst who drew a descending triangle pattern for the EOSUSD pair on the 1D chart.

EOS price chart 2 - 8 July

EOS Price Chart by Trading View

The analyst believes that the cryptocurrency will break past the descending resistance of the triangle pattern. The Relative Strength Index (RSI) appears to have shown a bullish divergence, as it has moved from 38.00 towards 52.00 on the chart during the first week of July. For this trade, the resistance level lies at the $2.96 mark, while the support lies at $1.80. The idea is in play as the cryptocurrency appears to move towards the resistance on the 8th of July.

Will EOS see a breakout from the descending triangle?

Skinwah is another TradingView analyst who believes that the EOSUSD pair may observe a breakout of a descending triangle pattern that it has been trading inside of, since April 2018.

EOS price chart 3 - 8 July

EOS Price Chart by Trading View

As per the chart above, the cryptocurrency may see a rise of 272% if it breaks out of the descending triangle pattern. If this increase in the price occurs, the cryptocurrency will rise towards the $9.074 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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