Ethereum
$ 1,243.56 1.70%
Solana
$ 42.04 0.09%
Dogecoin
$ 0.068466 1.30%
ApeCoin
$ 4.85 6.00%
Bitcoin
$ 21,518.00 0.99%
BNB
$ 239.58 0.63%

EOS price rests above $2.35, what to expect?

EOS price rests above what to expect

On the 30th of June, the EOS price line appears to rest near the $2.35 level. While the crypto analyst Trading Guru believes that the price will complete the bear flag pattern, the cryptocurrency still trades above $2.35.

1-Day EOS price analysis (30th June)

EOS price chart 1 - 30 June

EOS price chart by Trading View

EOS traded at $2.359 US Dollars at the time of writing. While the day’s low was observed at the $2.322 mark.

EOS price movement, bear flag?

Trading Guru, the TradingView analyst, believed that the EOSUSD pair will fall towards the $2.25 level.

EOS price chart 2 - 30 June

EOS price chart by Trading View

As per the idea, the EOSUSD pair broke below the horizontal resistance near $2.40 on the 27th of June, after which the cryptocurrency’s price crashed towards the $2.24 mark. The trading pair drew an ascending parallel trading channel for the 28th of June.

The coin’s price climbed across the $2.38 mark in the trading channel, after which it was expected to break below the ascending channel, as stated in the idea above.

The analyst explained a bear flag as a bearish continuation pattern that is formed after a crash, after which an ascending channel is formed due to the price bounce. If the channel is broken downwards, another downtrend can be expected to form.

The analyst expects this idea to play out as a bear flag as well; however, the price line appears to vary in the $2.340 to $2.370 range. The idea is yet to complete, but if the price line continues a bearish trend towards the $2.3 mark, then this idea will be completed.

The analyst also suggested a short trade due to the ascending channel, where the target price was expected near the $2.40 mark. This trade set-up approached the take profit on the 29th of June.

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.

Related News

Hot Stories

Crypto News Alert – A New Meme Coin That Will Process 50,000 Transactions Per Second
Polkadot price analysis: DOT price will break above the closest resistance level found at $ 9 over the weekend
Bitcoin price analysis: BTC slowly retests $21,500, ready to return lower?
Monero Price Prediction 2022-2031: Is XMR Price Going Higher?
3 Innovative Coins Presenting Unique Income Opportunities

Follow Us

Industry News

Margin calls and bot liquidations add chaos to crypto as its market cap hits $964b
Bitpanda lays off workers amid the market decline
Coinbase to launch Nano BTC features aimed at retail traders on June 27
Namibian University will offer master's degree in blockchain technology soon
Uphold announces restriction of Venezuelan users