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EOS price rests near $2.5: what’s next?

EOS price rests near what s next

On the 16th of June, the EOS price line treaded above the $2.520 level. The pair varied within a day’s range of $2.521 — $2.567. Daniel Ramsey, a TradingView analyst, believes that EOS will see a fall towards the $2.4 mark.

1-Day EOS price analysis (16th June)

EOS price chart 1 - 16 June

EOS Price Chart by Trading View

After the abrupt fall on the 15th of June, the cryptocurrency gradually made its way towards the $2.520 level. At the start of the 16th of June, EOS stood above the $2.520 mark, after which it traded between the $2.520 and $2.580 levels for the rest of the day’s trade. At the time of writing, EOS was observed trading at $2.540 US Dollars.

The Relative Strength Index (RSI) moved across the mark 80.00 at 03:00 GMT. The technical indicator showed a high of 84.31, which means that EOS was overbought at that instance. At the time of writing, the RSI indicator was observed at 40.81.

EOS price: what’s next?

Daniel Ramsey is a TradingView analyst who believed that the EOSUSD pair will fall towards the $2.45 mark.

EOS price chart 2 - 16 June

EOS Price Chart by Trading View

The support for the EOSUSD pair lies near the $2.39 mark, while the resistance lies near $2.88. The pair has traded between the $2.39 — $2.88 range for over a month. The price tested the $2.88 resistance on the 2nd of June. The price has stepped below the pivot point of the trading channel, while it is expected to fall towards the $2.45 mark in the short term. The analyst suggests that the traders of the EOSUSD pair should sell as the risk-reward is good.

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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