The EOS price line jumped past the $2.59 level on the 17th of June. Project Syndicate, the crypto analyst, suggests that the coin will drop towards the $2.30 mark after going short. The cryptocurrency traded within a day’s range of $2.52 to $2.60.
1-Day EOS price analysis (17th June)
The Relative Strength Index (RSI) rose to 85.65 at 06:52 GMT on the 17th of June. This shows that EOS was overbought at the time when the price jumped across the $2.59 mark.
After trading below the $2.570 mark through the day’s chart, the coin’s price line met a bullish divergence near 06:00 GMT. The cryptocurrency observed a day’s high of $2.605 US Dollars. The EOSUSD pair gradually returned towards the $2.55 level as the day proceeded towards its end. At the time of writing, EOS was observed trading at a price of $2.549 US Dollars.
At the time of closure, the 20-Day Exponential Moving Average (EMA) was observed at $2.49, while the 50-Day Moving Average (MA) was at the $2.55 mark at the time of closing.
EOS price: what’s next?
Project Syndicate is a TradingView analyst who believes that a correction is in process for EOSUSD and that there’s a limited upside short term.
The analyst is of the opinion that EOS will fall towards the $2.3 mark, though it might take some time for this trade to trigger. As per the technical analysis, EOS looks bearish and it is expected to fall after going short near $2.70.
Disclaimer: The information provided is not trading advice but an informative analysis of the price movement. Cryptopolitan.com holds no liability towards any investments based on the information provided on this page.