On the 31st of July, the EOS price line rose past the $3.11 mark. The cryptocurrency had been trading within the day’s range of $3.014 to $3.147.
1-Day EOS price analysis
At the beginning of the day’s trade, EOS was observed trading at $3.06. As the day proceeded, the cryptocurrency’s price fell towards the $3.02 mark and approached a day’s low of $3.014. At the time of writing, the EOSUSD pair stood at $3.11 US Dollars.
What’s next for EOS?
The Trading View analyst Saazba is of the opinion that the EOSUSD pair is attempting a breakout.
Saazba highlighted a descending triangle on the 4-Hour chart for the EOSUSD pair. The analyst expects EOS to break above the descending triangle as EOSUSD attempted to test the resistance of the trading pattern on the 31st of July.
EOS successfully made its way past the descending triangle, and now it’s headed towards the $3.195 mark as per the analyst.
What to expect from EOS price?
Another TradingView analyst, Salah LH, believes that the cryptocurrency will see a rise towards the $8 mark after its current accumulation phase.
On the 1-Week charts, the analyst drew two paths that the EOSUSD pair is expected to take over the next year. The analyst believes that EOS will rise towards the $8 by the first quarter of 2021, after which it may further rise towards the $15 mark.
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.