1-Day EOS price analysis
EOS was priced at $0.245 US Dollars at the time of writing. The coin approached a day’s high of $2.611.
EOS price prediction: A rise to $3.95 next?
EOS is expected to rise towards the $4 mark soon. The Trading View analyst DLavrov believes that the cryptocurrency will soon see an ascending move.
The Moving Average Convergence Divergence (MACD) line appears to have moved above the signal line, and the histogram size is decreasing in the negative region. This is a bullish indicator for EOS. The Relative Strength Index (RSI) stands near 55.00 while it appears to be trending upwards.
The idea suggests that the cryptocurrency will reach the $3.95 mark very soon, while the stop-loss for this trade was marked at $2.55. This means that if the cryptocurrency falls below this price, the traders should sell the asset as the idea will have invalidated.
What’s next for EOS?
A big ascending channel was caught on the 3-day time frame for the EOSUSD pair. The analyst Naif believes that the cryptocurrency has been trading inside of this ascending channel from July 2017.
The analyst drew a descending triangle over the cryptocurrency’s trend. The support was highlighted at $2.605, and if we look at the chart, EOS appears to have shown a decreased volatility in its price. Such a low amount of price volatility can result in a breakout. The idea suggests that the cryptocurrency will break towards the upside from this big descending triangle, and then trend upwards in the channel.
The target prices were marked at $7.9, $12.5, $23, and $49. The trade volume can also be observed decreasing under a trendline over the past 2 years.
Another analyst from Trading View used the descending triangle pattern on the 1-day time frame for EOSUSD. The analyst highlighted the trend of the decrease in this cryptocurrency’s decrease over 2019 and 2020.
Per the trade, the cryptocurrency will break upwards from the descending triangle and hit the $6.04 mark. The stop-loss for this trade was highlighted at a lower value of $1.122. The cryptocurrency seems to have been supported by the $1.61 mark from 2018.
EOS breaks above descending resistance
The altcoin has been trading above a 6-months long support level. Looking at the chart below, we can see that it has bounced off the support level at multiple points.
After July, the cryptocurrency made an ascending move and rose past $3.8, which was followed by a gradual decline and the price eventually met the $2.6 mark. The analyst drew a descending trend line against this decreasing trend of the cryptocurrency, and they highlighted a breakout above this trend line. Per the idea, EOS is showing off buy signals and it will gradually pick up the pace to ascend over its charts.
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.