The EOS price line rose past the $3.04 level on the 12th of August. The cryptocurrency is expected to rise past the $4 mark if it holds the 200-Day Moving Average (200MA) support.
1-Day EOS price analysis
For the day’s lowest, the cryptocurrency fell to $2.891 US Dollars. At the time of writing, EOS was observed at $3.033 US Dollars.
What to expect from the EOS price?
Whittier is a Trading View analyst who has drawn a triangle pattern of the EOSUSD pair. The crypto analyst believes that the coin will rise past the $4 mark.
EOS price chart by Trading View
The analyst highlighted an ascending trendline beneath the EOSUSD pair’s trajectory. The cryptocurrency has been trading above this trendline from March 2020. The analyst suggested that if the cryptocurrency rebounds from the 200-Day Moving Average (200MA) that is currently placed right below it, then the cryptocurrency will rise towards the upper boundary of the trading pattern.
If the cryptocurrency moves towards the falling resistance to retest it, the price line may break upwards from the trading pattern and rise past the $3.5 mark. The first target price for this trade was placed at $3.689, while the second target price was marked at $4.056.
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.