On the 5th of July, the EOS price line gradually slipped below the $2.42 mark before turning bearish and observing an abrupt drop towards the $2.34 mark.
1-Day EOS price analysis (5th July)
The cryptocurrency began the day’s trade near the $2.46 level, while it gradually lingered down towards the $2.42 mark. After 21:00 GMT, the price line was seen abruptly falling below the $2.34 mark.
The Relative Strength Index (RSI) fell to a low of 11.77 at 21:16 GMT. At the time, the EOSUSD pair had abruptly fallen below the $2.34 mark. Such a low value for the RSI indicator shows that the cryptocurrency was oversold at that time.
At 00:07 GMT, the technical indicator had risen towards the 78.76 marks, which means that the cryptocurrency was overbought at that instance.
Bat trading pattern on the EOSUSD pair
Moe Mentum is a TradingView analyst who has highlighted a possible bat pattern on the 1W chart for the EOSUSD trading pair. The harmonic trading pattern can be seen forming on the chart above.
The confirmation level was drawn at the $2.168 mark by the crypto analyst, while the two peaks of the trading pattern were formed by the EOSUSD pair on the 27th of April and the 1st of June.
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.