EOS price rises above $4.5 on the 18th of February. The trading view analyst DLavrov extends the last EOS trend analysis by discussing 3 expected long positions for the cryptocurrency. The reversal price pattern may have two directions for the coin’s upcoming price. EOS is still expected to fall to $3.7 if a false reversal occurs.
1-Day EOS Price Analysis (18th February)
EOS sees some price recovery towards $4.6 on the 18th of February after falling towards $4.0 on the 17th of February. The cryptocurrency saw a bullish momentum in the afternoon and reached across the $4.650 mark after 21:00 GMT.
Currently, EOSUSD stands at $4.546. The 20-Day Exponential Moving Average (EMA) is observed at $4.552, while the 50-Day Moving Average (MA) is placed at $4.550. The Relative Strength Index (RSI) has a value of 47.02.
EOS: Predictive Analysis
DLavrov is of the opinion that the cryptocurrency’s market is currently in a candlestick pattern under the support at $4.5 and below the uptrend line. For this scenario, the trading view analyst drew his first long position near the $4.30 level.
DLavrov stated that if BCH closes its price near its current trading levels, the cryptocurrency’s second long position will be based on the high price of the bullish candle. BCHUSD is expected to fall towards $3.7 if a false reversal occurs and the price breaks the ongoing uptrend line.
The trading view analyst wrote that the RSI will confirm the upcoming price reversal’s direction. However, the second long position set by DLavrov currently seems to be in play as the trading pair stands above $4.5.
Featured Image by Damian McCoig.
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.