TLDR Breakdown
- EOS price prediction expecting a rise to $3 and possibly $4.
- EOS price is following the altcoins into a reverse head and shoulder.
- Strong support is forming near $2.6 level.
The EOS price prediction by Common Trader shows that the cryptocurrency is set to break towards the upside from a long descending triangle. Per the analyst, the price is to see a rise towards the $4.13 mark next. On the other hand, the altcoin market is now moving in a reverse head and shoulder with the possibility of a rise soon.
1-Day EOS price analysis
The EOS price came to rest above the $2.68 level after rising above the $2.74 mark on the 17th of November. The cryptocurrency has been observing an uptrend over the past two days while the altcoin market has been climbing the charts. At the time of writing, the cryptocurrency is standing at $2.599 US Dollars on Coinbase.
The highest price for the cryptocurrency on the 17th of November was recorded at $2.757, while the lowest price was recorded at the very start of the day, at $2.578. The overall trend for EOS on the 17th of November has been bullish.
EOS price prediction: Where is EOS headed?
The Trading View analyst expects the price to either move towards the $3 mark, or fall short if it does not hold above the $2.698 mark.
Per the analyst, the $2.698 mark is crucial for the EOSUSD pair to hold. On the 18th of November, the EOS price seems to have fallen below this crucial point. If the price confirms the break below this support level, the cryptocurrency will fall downwards, and the setup for the entry-level for the long position will be invalidated, as the cryptocurrency will reach the stop-loss.
Once the cryptocurrency falls from the ascending trendline highlighted green on the chart above, the price will move towards the $2.45 level.
What to expect from EOS?
Observing the chart below, we can see that the cryptocurrency had moved below the $1 mark during the September to November period. The price had escaped a wedge pattern in August, after which it lost its bullishness and fell on the charts.
The trade volume for the EOSUSD trading pair has increased by a lot over the past month, and the cryptocurrency has seen more green candles than the red ones. This means that the market has turned bullish at the end of the year, and the price continues to move upwards.
EOS price prediction: Rise ahead?
Another descending triangle can be seen on the chart below. The price is testing the upper boundary and it is expected to break towards the upside soon. The triangle
The analyst said that this is a long-term trade, and the price should move upwards and test higher resistances that are marked on the chart. The target price lies above the $15.0 level. After the breakout, the cryptocurrency will test the $4.13, $5.90, $8.05, and finally, the $15.11 level.
EOS technical indicator movement
The Relative Strength Index (RSI) closed at 40.66 on the 18th of November. The Moving Average Convergence Divergence (MACD) line moved below the signal line, though the histogram size has begun to decrease in the negative region. This means that the cryptocurrency is looking at a bearish bias right now.
