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EOS price rises to $3.4, forms a bullish flag

EOS price rises to forms a bullish flag

The EOS price line traded near the $3.10 to 3.15 range throughout most of the 14th of August. The price line turned bullish and rose towards the $3.3 mark.

1-Day EOS price analysis

EOS price chart 1 - 14 August

EOS price chart by Trading View

The cryptocurrency rose to a day’s high of $3.297 after 18:00 GMT. At the time of writing, EOS was observed trading at $3.354 US Dollars.

EOS completes bullish flag pattern

Whittier is a Trading View analyst who highlighted a flag pattern on the 15-Minute chart for the EOSUSD pair. The analyst believed that EOS may rise towards the $3.3 mark.

EOS price chart 2 - 14 August

EOS price chart by Trading View

The bullish flag pattern completed on the 14th of August when the price line rose towards the $3.3 mark after accumulating between the $3.1 and $3.15 levels. The cryptocurrency’s rise in price formed the pole in the afternoon of the 13th of August, while the flag was formed on the 14th of August after the price accumulation took place. The trade completed and the price line hit the target price of $3.303.

Cup and handle pattern for EOS price

The Trading View analyst Whittier believed that the cryptocurrency will form a cup and handle pattern on the 1-Hour chart and it will rise towards the $3.3 mark.

EOS price chart 3 - 14 August

EOS price chart by Trading View

The cryptocurrency turned bullish in the evening of the 14th of August after which it rose past the $3.15 level and rose to a high of $3.3. The cup and handle pattern is a bullish pattern in which the cryptocurrency’s price falls and shortly after which the price rises towards the same level. The price exhibits another short drop and then it rises to a greater level. The trade idea was completed towards the end of the 14th of August.

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.

Taha Farooqui

Taha Farooqui

Taha specializes in copywriting & translating texts. He aims to cover cryptocurrencies & blockchain in both English and local dialects in the Middle Eastern regions. He has helped write, translate, and localize the material related to cryptocurrencies and blockchain.

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