EOS price saw an uptrend on the 5th of June after trading near the $2.720 level through the 24hour trade.
In the evening, the cryptocurrency rose past the $2.840 level, while it traded within a day’s range of $2.799 — $2.891.
1-Day EOS price analysis (5th June)
By noon of the 4th of June, the cryptocurrency’s price line was observed at the $2.720 level. The EOSUSD pair continued its trade near the same price level for over 24 hours. In the afternoon of the 5th of June, EOS saw an uptrend, and it rose across the $2.860 level. At the time of writing, EOS traded at $2.814 US Dollars.
EOS: uptrend or downtrend?
SalonManje is a TradingView analyst who has highlighted two scenarios for the EOSUSD trading pair.
According to the first scenario, the cryptocurrency should see an uptrend across the $3.00 mark, while the second scenario shows that EOS should fall towards the $2.2 level next.
If the first scenario is to come into play, the cryptocurrency will eventually move towards the $5.00 mark. The long trade for the second scenario shows that EOS will fall towards the $2.00 mark.
EOS price, what’s next?
GerardWalker is another TradingView analyst who has suggested that the EOSUSD trading pair will see an uptrend across the $4.00 mark.
The analyst has highlighted a wedge pattern for the trading pair. As per the idea, the cryptocurrency will move towards the lower boundary of the wedge, which lies near $2.40 before returning, after which the trading pair is expected to break out of the wedge and move towards the $4.00 level. If this idea comes into play, the cryptocurrency will move towards the $4.35 mark.
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.