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EOS price moves to $2.46, what’s next?

EOS price moves to what s next

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)

EOS price chart 1 - 26 June

EOS price chart by Trading View

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.

EOS price chart 2 - 26 June

EOS price chart by Trading View

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.

Johnson Go

Johnson Go

Blockchain enthusiast, project management specialist, writer and crypto investor. JG deals mostly with problems and solutions of crypto projects and provides market outlook for investments. He contributes his analytical skills to projects.

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