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)
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.
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.