The EOS price line rose towards the $2.46 mark after following a brief drop below the $2.40 level. Project Syndicate is of the opinion that the EOSUSD pair will see a price reversal after moving to a price level below the $2.30 mark.
1-Day EOS price analysis (26th June)
The EOS coin was priced at $2.468 US Dollars at the time of writing. The Relative Strength Index (RSI) fell to a low of 11.51 at 07:22 GMT.
This shows that the cryptocurrency was extremely oversold at that time. The technical indicator rose to a high of 81.91 at 12:22 GMT, which means that EOS was overbought at that instance. At the time of writing, the RSI indicator was observed at 49.21.
EOS price; what’s next?
Project Syndicate, the TradingView analyst, is of the opinion that the EOSUSD pair is currently bearish, and it will move towards lower price levels between the $2.1 to $2.3 range up next.
On the 16H chart, the crypto analyst stated that the cryptocurrency is currently locked in the range, and a downside move is expected before the price reversal occurs in the form of bulls.
The analyst further suggested that the fall near $2.15 to $2.30 will be enough for a bullish move to be triggered, and a reaction will occur mid-term, which is why traders should look to buy low. The stop-loss for this trade was placed at the $2.00 mark.
After the price reached the low levels, the EOSUSD pair’s trajectory is expected to make its way back towards the $2.4 mark. However, this uptrend may lead the price across the $2.9 level.
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.