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EOS price rests at $3.06, rise to $3.8 ahead?

EOS price rests at rise to ahead

On the 6th of August, the EOS price line fell towards the $3.01 level before it turned bullish in the afternoon and rose past the $3.07 mark.

1-Day EOS price analysis

EOS price chart 1 - 6 August

EOS price chart by Trading View

At the beginning of the day’s trade, the cryptocurrency was observed at the $3.06 mark, after which it gradually fell to a day’s low of $3.007. At the time of writing, the cryptocurrency traded at $3.058 US Dollars.

EOS price to rise towards the $3.8 mark?

The Trading View analyst Rocket Bomb is of the opinion that the EOSUSD pair is currently in a buy zone and that it will rise towards the $3.8 level.

EOS price chart 2 - 6 August

EOS price chart by Trading View

The analyst drew an ascending trendline below the EOSUSD pair, and they believe that as the cryptocurrency has currently entered a buying zone, it will rise towards the target price of $3.83.

A bullish convergence can be observed on the Relative Strength Index (RSI) scale on the 1-Day chart above. As per the analysis, the cryptocurrency will rise towards the $3.13 next, followed by the $3.30, $3.48, $3.64 and $3.83 marks.

What’s next for EOS?

The Trading View analyst Daniel Ramsay is of the opinion that the EOSUSD pair will fall towards the $2.9 mark in a short-term trade.

EOS price chart 3 - 6 August

EOS price chart by Trading View

The analyst laid the target price for this trade at the $2.93 mark, while they also highlighted the key support level at the $2.65 mark. The analyst suggests that the traders sell the cryptocurrency for this trade as the risk-reward appears to be good. This trade has yet to come into play.

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.

Taha Farooqui

Taha Farooqui

Taha specializes in copywriting & translating texts. He aims to cover cryptocurrencies & blockchain in both English and local dialects in the Middle Eastern regions. He has helped write, translate, and localize the material related to cryptocurrencies and blockchain.

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