The EOS price prediction by Marjin Buu suggests a rise in the price towards the $2.88 mark once EOS sees sideways movements and breaks upwards from the triangle pattern. On the 24-hour trade, the price observed a downward slope.
1-Day EOS price analysis
EOS was priced at $2.587 US Dollars at the time of writing. On the 29th of October, the price fell to a day’s low of $2.605.
What’s next for EOS?
The cryptocurrency has held the $2.6 mark since the 21st of October, which means that the price may turn bullish soon. This is because as long as EOS holds this key support level, the price will find an upward leg anytime the market sees a bullish momentum.
What to expect from EOS?
The Trading View analyst Read Crypto expects the EOS price to see an uptrend soon.
Looking at the chart, the analyst believes that the price needs to move above the $2.6899 mark in order to see an uptrend. Currently, the cryptocurrency appears to be rising above the $2.5664 mark. A rise above the $2.8250 level will increase the chances for EOS to trend upwards.
For a change in the current trend, the cryptocurrency should move past the $3.2 mark. This is a key resistance for the EOSUSD pair, and it will allow the cryptocurrency to move towards $4. If EOS falls to the 2.3 to 2.4 Fibonacci retracement range, the traders are suggested to be more careful with the trade as the price may fall to a huge decline. If EOS falls below $2.5664, the price is expected to move towards $2.3052.
EOS price prediction: Breakout from triangle ahead?
The charts show that the price is trending inside a symmetrical triangle pattern on the H4 time frame. The price is holding the $2.6 support, and it is expected to move sideways until the support grows stronger.
The price keeps testing the $2.7 mark in the triangle pattern and falls towards the $2.6 support. The analyst Marjin Buu believes that this makes the support stronger. The price has now reached the lower boundary of the triangle and it is expected to bounce upwards. The cryptocurrency seems to be outperforming the other altcoins. The sideways movements are expected to continue until the cryptocurrency moves towards the end of the triangle and breaks from the $2.7 mark to rise to $2.88.
EOS technical indicators
The Relative Strength Index (RSI) appears varying below 40.00 but in the neutral region. The Bollinger Bands expansion showed increased price volatility near noon on the 29th of October. The Moving Average Convergence Divergence (MACD) line has moved below the signal line and the histogram size appears to be increasing in the positive region. The price is testing the lower Bollinger band.