logo

EOS price moves to $2.7 after head and shoulders pattern

EOS price moves to completes head and shoulders pattern

The EOS price line converged near the $2.700 level on the 1st of June. The cryptocurrency had been traded above the $2.760 level, after which it observed a brief retracement that led the price trajectory below the $2.660 mark. For the day’s range, the cryptocurrency varied within $2.662 — $2.731.

1-Day EOS price analysis (1st June)

EOS Price ChartEOS Price Chart by Trading View

For most of the 1st of June, the Relative Strength Index (RSI) was observed in its normal range, however, it fell to a low of 17.10 at 10:20 GMT. This shows that EOS was oversold at the time. At the time of writing, the RSI was observed at 55.02, while the EOSUSD pair traded at $2.711 US Dollars.

EOS price in head and shoulders? 

Cryptosuf is a TradingView analyst who highlighted a head and shoulders pattern for EOSUSD on the charts.

EOS Price Featured ChartEOS Price Chart by Trading View

As per the chart above, the head and shoulders pattern started on the 5th of April, and the right shoulder was completed by the 31st of May. The head peaked near the $3.10 level.

EOS price towards $3?

pranavchadha18 is a TradingView analyst who believes that EOS is ready for an uptrend across the $3.0 mark. 

EOS Price Featured ChartEOS Price Chart by Trading View

As observed in the chart above, EOSUSD showed lower highs as May proceeded towards its end. The trading pattern is almost complete and the analyst expected EOS to make a bullish breakout towards the $3.0 level. The analyst also put a lenient stop, however, they believe that EOS looks ready to run.

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.

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.

Related News

Hot Stories

Ripple price analysis: Bullish momentum helps elevate XRP price to $0.3882
Luxembourg expands PayPal operations to cryptocurrencies
Metacade Presale for Web3’s First-Ever P2E Crypto Arcade Raises Over $670k in Under 2 Weeks
Ankr Price Prediction 2023-2031: Will the ANKR price go up?
Bitcoin, Ethereum, Filecoin, and ApeCoin Daily Price Analyses – 7 December Roundup

Follow Us

Industry News

Luxembourg expands PayPal operations to cryptocurrencies
Grayscale Investments slammed with a lawsuit as GBTC plunges
Taylor Swift's $100M partnership with troubled FTX ended prematurely: Reports
Iran plans to freeze bank accounts for women without hijab
Revealed: the top-5 token Holdings of Alameda

Add Your Heading Text Here