On 7th July, the EOS price line gradually fell towards the $2.55 mark. The cryptocurrency traded within a day’s range of $2.52 to $2.634.
1-Day EOS price analysis (7th July)
At the time of writing, the EOSUSD pair was observed trading at $2.55 US Dollars. Where the high was observed at the $2.634, and the lowest point was marked a little above the $2.520 mark.
What’s next for EOS price?
Crypt Teddy Bear is a TradingView analyst who has discussed an ascending movement for the EOSUSD pair.
The analyst highlighted a descending parallel channel that the EOSUSD pair has been trading inside since the end of May 2020. As per the crypto analyst’s idea, the cryptocurrency will rise towards the $12 mark now that it has broken above the descending parallel channel.
The idea further suggests that the cryptocurrency’s price will see a downtrend towards the $5 mark, before seeing another increase in its price that may lead it to a new high between the $12 and $18 price levels.
Will EOS see a downtrend before the uptrend?
Aziz Khan Zamani is another TradingView analyst who believes that the EOSUSD pair will fall with a retracement of 0.5. Such a fall in the price will lead the cryptocurrency towards the $2.48 mark.
The analyst is of the opinion that once the price had fallen towards the $2.48 mark, it will follow an uptrend with a similar retracement level. The crypto analyst believes that the ascend will lead the cryptocurrency to the $2.61 mark. On the 4H chart, the daily support is highlighted at the $2.39 level, whereas the daily resistance was marked at $2.84 by the analyst.
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.