The EOS price line returns to the $3.5 mark after seeing a bearish movement on the 01st of March when the price fell towards the $3.440 mark. A trading view analyst, MrLucifer7 believed that the cryptocurrency will go bearish and it needs to find a nearby support. Currently, EOS has a day’s range of $3.485 — $3.584.
1-Day EOS Price Analysis (01st March)
The EOS price stayed above the $3.560 mark until it saw a bearish momentum in the evening. The coin approached a day’s high of $3.650 US Dollars at noon. After it saw bear, the coin fell to the $3.460 mark, but it gradually recovered its price towards the $3.560 level. At the time of writing, EOSUSD trades at $3.553 US Dollars.
The 20-Day Exponential Moving Average (EMA) is currently placed below the 50-Day Moving Average (MA), and the 20EMA closed at $3.554. The 50MA closed the day with a value of $3.557. The Relative Strength Index (RSI) appears to have stayed in between the levels 30.00 and 70.00 for most of the day, while it currently stands at 39.19.
EOS: predictive analysis
Cryptoanalyst MrLucifer07 was of the opinion that the cryptocurrency will tank and that it needs to find a support or floor nearby.
The predictive analysis does not seem to be playing out as the cryptocurrency has not turned bearish as of yet. This may also be a possible fakeout, but MrLucifer07 believes that overall, the cryptocurrency seems to be bullish and hence holdings should not be sold out.
Featured Image by Camille Couvez.
Disclaimer: The information provided is not trading advice but an informative analysis of the price movement. Cryptopolitan holds no liability towards any investments based on the information provided on this page.