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EOS price reaches $2.54: what’s next?

EOS price reaches what s next

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)

EOS price chart 1 - 17 June

EOS Price Chart by Trading View

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.

EOS price chart 2 - 17 June

EOS Price Chart by Trading View

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.

Johnson Go

Johnson Go

Blockchain enthusiast, project management specialist, writer and crypto investor. JG deals mostly with problems and solutions of crypto projects and provides market outlook for investments. He contributes his analytical skills to projects.

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