The EOS price line fell to the $3.1 level on the 25th of August. Crypto analysts on Trading View are of the opinion that EOS will soon observe an upside breakout and its price will soar past the $4 mark.
1-Day EOS price analysis
In the evening of the 25th of August, the cryptocurrency fell to a day’s low of $3.009. EOS was observed trading at $3.107 US Dollars at the time of writing.
What’s next for the EOS price?
The Trading View analyst Crypto Rov is of the opinion that the EOSUSD trading pair is about to turn bullish and observe a breakout.
The analyst drew an ascending triangle pattern on the 1-Day chart for the cryptocurrency. EOS has recently exhibited a golden cross between the 200-Day Moving Average (blue) and the 50-Day Moving Average (blood red). The golden cross pattern is indicated in the chart above.
EOS also broke above the descending triangle very recently, where it formed an ascending channel. The price line is expected to ascend along with the lower trend-line of the channel. The golden cross is a bullish indicator, which is why the analyst believes that EOS will soar up its charts and move towards the $6 to $7 mark. The final target price for this trade was laid at $8.61 US Dollars.
What to expect from EOS?
Another Trading View analyst XRP Lambos believes that the EOS coin will ascend past the $4.5 mark on its charts. The analyst employed the 4-Hour chart for the trading pair, on which they drew their analysis.
For the local trend, the analyst highlighted a descending channel. The moving averages indicate that the cryptocurrency will break past the upper boundary of the descending channel that’s shown in the chart above.
The Relative Strength Index (RSI) shows a bullish convergence, while the analyst believes that the price line will soar past the $4.5 level in a long-term trade after it breaks out of the descending channel. If this trade comes into play, the cryptocurrency will gain over 40% of its current value.
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.