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
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.
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.
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.