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EOS price settles at $2.55, what to expect?

EOS price settles at what to expect

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)

EOS price chart 1 - 7 July

EOS Price Chart by Trading View

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.

EOS price chart 2 - 7 July

EOS Price Chart by Trading View

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.

EOS price chart 3 - 7 July

EOS Price Chart by Trading View

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.

Johnson Go

Johnson Go

Blockchain enthusiast, project management specialist, writer and crypto investor. JG deals mostly with problems and solutions of crypto projects and provides market outlook for investments. He contributes his analytical skills to projects.

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