- EOS price prediction expects a rise to the $2.45 high.
- EOS finds strong support at the $2.346 mark.
- EOS lost support at the $2.44mark.
The EOS price prediction by Marjin Buu suggests a price recovery towards the $2.45 mark soon. The cryptocurrency moved above the $2.36 level on the 3rd of November.
1-Day EOS price analysis
The altcoin was priced at the $2.346 mark at the time of writing. The lowest price for the day was recorded at $2.25 US Dollars.
What’s next for the EOS price?
The chart below shows that the altcoin has held above the support structure near $2.30 since March 2020. The price had risen towards the $4.0 mark in August, after which it returned to the $2.30 level.
The $2.30 support level is very important for EOS to continue to hold; otherwise, the cryptocurrency will become highly bearish. The trade volume has seen an increased number of red candles lately. The analyst has suggested that if the cryptocurrency breaks below $2.30, the downtrend will continue until the price trajectory approaches the $1.75 mark.
However, if the price can hold the $2.30 support structure, the cryptocurrency will see an uptrend across the $4 mark, per the chart. The top of the setup lies at the $4.15 mark, while higher resistances were marked at $2.82 and $3.21.
EOS price prediction: What to expect?
In the Trading View analyst Marjin Buu’s opinion, the price has moved below a horizontal support line that it had held from the 21st of September. The analyst believes that the cryptocurrency will gradually return above this support-turned-resistance.
The Relative Strength Index (RSI) has closed in the oversold region, but it has seen a bullish divergence. This means that the RSI is expected to head upwards. The cryptocurrency indicates a gradual slope towards the test of the resistance, after which the price may see a gradual, brief fall. This will eventually be followed by a break of the resistance line where the price will return to the $2.45 mark.
EOS technical indicators movement
The technical analysis by Mudrex suggested that the price see a downtrend on the 1D time frame. On the 3rd of November, the price completed this trade idea.
The cryptocurrency has been trading inside the Bollinger band as it showed lower highs over the recent candles. The EOS price was also riding the lower Bollinger band as the band expansion occurred. This means that the downtrend will be continued.
The trade volume has been low for the blue candles, while it has had higher red candles values. This suggests that the EOSUSD market has stronger selling pressure at the time. The Moving Average Convergence Divergence (MACD) line had crossed below the signal line, while the histogram size increased in the negative region. This also means that EOS has been suggesting a bearish bias.
The Relative Strength Index (RSI) closed below the midline near 36.00, the neutral region. Moreover, the technical indicator was under a downtrend. The Commodity Channel Index (CCI) was around -160, which is the oversold region, indicating an uptrend.
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