- EOS price predictions expect a two-fold rise soon.
- EOS price moving in the $2.5 – $2.6 range.
- Strong support found at the $2.5 mark.
The EOS price gradually made its way down on the 24-hour chart for the 20th of October. The EOS price prediction by Margin Buu depicts that the price will see an uptrend towards the $4.5 mark after a major upward breakout.
1-Day EOS price analysis
The altcoin‘s price fell as the day proceeded and it reached the $2.507 mark which is also the current trading price. The coin fell to a day’s low of $2.503.
EOS price prediction: Where is EOS headed?
The price appears to be trading between the Bollinger Bands while it tests the midline resistance. This means that the cryptocurrency may soon see an uptrend, as stated by the analyst Mudrex.
The Moving Average Convergence Divergence (MACD) line appears to be moving above the signal line, while the histogram size decreases in the positive region. This behavior of the technical indicator means that the cryptocurrency has a bullish bias. The Relative Strength Index (RSI) lies below 46.00, a neutral value for the coin. Such a value shows that the coin is neither oversold nor overbought at this time.
The trade volume showed higher red candles, while the green and red candles have shown similar values. This indicates a bearish momentum for EOS. On the 20th of October, EOS stretched a red candle on the daily time frame for EOSUSD.
The crypto analyst drew a descending triangle for EOS. Per Saraey Gholam Reza’s analysis of the EOSUSD pair, the cryptocurrency has just broken out of a descending triangle, which may mean that it is entering a long-position to test the higher resistances.
The bottom support was marked at $2.348. The cryptocurrency tested the upper resistance of the triangle multiple times, and it finally broke above it on the 19th of October. The price observed a pullback and fell back to the resistance-turned-support instead of seeing an uptrend after the occurrence of the breakout. The Relative Strength Index (RSI) recently moved above 50.00 on the 4H timeframe. This means that the RSI is on the rise for the past 2 days.
EOS continues to hold the $2.50 support as shown in the chart below. The price turned bullish and moved towards the resistance of a big cone-like pattern back in the first week of October.
In the long-term trade, the analyst believes that the cryptocurrency will eventually break upwards from this pattern. For this trade to remain valid, EOS has to hold above $2.50. The take profit for this trade was marked near $4.5.
EOS price technical indicators
On the above chart, the RSI still appears in the neutral zone. The Bollinger Bands showed an increase in the price volatility around noon on the 20th of October. Near to the time of publishing, the cryptocurrency’s price volatility was observed decreasing.
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