While the EOS price line continued to tread near the $2.48 level, crypto analysts believe that the EOSUSD pair will see a price fall in the near future.
1-Day EOS price analysis (25th June)
The Relative Strength Index (RSI) fell to a low of 18.16 near 12:20 GMT. This shows that the cryptocurrency was oversold at the time the price fell towards the $2.44 mark. At the time of writing, EOS traded at a price of $2.481 US Dollars.
EOS price; correction ahead?
NDM is a TradingView analyst who believes that EOSUSD has been correcting ever since it saw the 2018 rise.
As shown in the chart above, the cryptocurrency rose above the $7.5 mark, while the trading pair shows a downward slope on the weekly chart till the point that is marked A on the chart.
The divergence indicator depicts a rise after the cryptocurrency reached 2020. The rise is indicated from point A to point B, where the cryptocurrency reached the $5 mark. EOS saw major corrections between February and March, after which it has treaded near the $2.4 mark.
The analyst has suggested that EOS will see further correction and fall below the $1.00 level.
EOS price movement; what to expect?
Crypto Tony, the TradingView analyst, believes that the EOSUSD pair will fall towards the $2.00 to $1.90 mark.
On the 1-day chart above, the analyst has shown that the cryptocurrency may show a flat movement near the $2.5 level, after which it will fall towards the $2.0 to $1.9 trading range. The idea also shows that EOS will retrace towards the $4.0 mark after the price fall.
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.