On the 4th of July, EOS price trod across the $2.49 mark. However, like every other cryptocurrency, EOS price was also unable to maintain the high point. The cryptocurrency traded within a day’s range of $2.410 to $2.474.
1-Day EOS price analysis (4th July)
On the 1D chart, the Relative Strength Index (RSI) dropped to a day’s low of 16.03 near 15:13 GMT, which shows that EOS was oversold at that instance. The cryptocurrency had begun the day’s trade with a price between the $2.41 and $2.42 levels, while the price trajectory shot across the $2.49 mark near 02:16 GMT. At the time of writing, EOS traded at $2.463 US Dollars.
What to expect from EOS price?
Qubit Tech is a TradingView analyst who has provided an EOS analysis using the Ichimoku method.
The analyst used three types of charts to discuss the EOSUSD trading pair’s movements. On the 1D trading chart, the cryptocurrency analyst highlighted that the Ichimoku cloud is directing downwards, which means that a downtrend is expected here.
The price line also reached a downtrend line on the chart. Locally, the analyst recommends traders to sell the coin as soon as the RSI exhibits an oversold (below 30.00) EOS coin on the 4H charts.
On the 4H chart, the Ichimoku cloud appears to direct upwards, which means that an uptrend is expected for the EOSUSD pair on the 4H chart. A divergence has also formed for the RSI and the trading pair, which means that the locally, traders should sell the cryptocurrency as soon as the RSI indicator for the trading pair reaches the overbought (above 70.00) level on the 1H charts.
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.