EOS price prediction: Altcoin looks ready for $2.9, analyst

EOS price prediction Altcoin looks ready for analyst
  • EOS price prediction expect a prime $2.9 raise.
  • EOS is affected by market volatility as much as other coins.
  • EOS price finds strong support at $2.52 mark.

The cryptocurrency’s graph depreciated on the 17th of October as the EOS price fell towards the $2.51 level. The EOS price prediction by the Trading View analyst DLavrov suggests that the technical indicators for the EOSUSD trading pair have indicated an upcoming bullish momentum for the altcoin.

1-Day EOS price analysis

EOS price chart 1 - 17 October
EOS price prediction chart by Trading View

EOS was priced at $2.52 at the time of writing. The cryptocurrency traded at a day’s high of $2.543, whereas it fell to a day’s low of $2.519 on the 17th of October.

EOS price prediction: Rise to $2.97 next?

EOS appears to form a bullish setup near the support line beneath it. The analyst DLavrov believes that EOS will observe an uptrend after dropping down to the horizontal support level near $2.485.

EOS price chart 2 - 17 October
EOS price prediction chart by Trading View

The Moving Average Convergence Divergence (MACD) line and the signal line have started to move upwards in the negative region while the histogram size also appears to be decreasing in the negative zone. This means that the cryptocurrency is still bearish but it is looking forward to a bullish divergence up next. The Relative Strength Index (RSI), although low, has stopped its downfall and has stabilized above 30.00.

A golden cross was also seen between the 50 and 200-Day Moving Averages on the 12th of October. This may also indicate an ascending move up next. The RSI indicator is not far from the oversold zone for EOS, while the MACD indicator has also confirmed a bullish signal. This means that the price will soon move upwards. Per the analyst, the cryptocurrency will rise to $2.97 next.

What to expect from EOS?

The Trading View analyst Margin Buu is of the opinion that the recent news regarding the OKEx exchange has brought the trading pair to the kill-zone again.

EOS price chart 3 - 17 October
EOS price prediction chart by Trading View

The cryptocurrency is expected to form an ascending trendline and head past the $2.7 mark next. The trend that EOS is expected to follow was chalked out by the analyst in this chart posted above. The analyst added that if EOS price continues to hold above the $2.43 mark and does not fall below this huge cone, the price will manage to gain the bullish momentum eventually.

EOS breaks out of a falling wedge

Traders Keep Trading drew a falling wedge pattern on the daily chart for the trading pair. The analyst believes that the price will rise past the $3 mark after testing the wedge support formed below the $2.52 level.

EOS price chart 4 - 17 October
EOS price prediction chart by Trading View

There is a major accumulation zone that has formed at the bottom of the falling wedge. The stop-loss has been marked at $2.357, while the take profits were placed at $3.021 and $3.487. The price has already broken out of the falling wedge pattern, but it is testing the bottom support level. A bounce above this level will cause the price to rise towards higher resistances.

Disclaimer: The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.

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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