On the 22nd of June, the EOS price line met bulls and moved across the $2.60 level. The cryptocurrency was trading within a day’s range of $2.50 — $2.60. Crypto analysts believe that EOS will see a shortfall in the future.
1-Day EOS price analysis (22nd June)
The EOSUSD trading pair traded at $2.585 at the time of writing.
EOS price movement; what’s next?
Julia, the TradingView analyst is of the opinion that EOS will fall in the future. The analyst drew a triangle pattern on the daily EOSUSD chart.
If we observe the idea chart above, the analyst has drawn multiple triangles on the chart. The first one is the one in red that indicated a rising trend for the EOSUSD pair, after which the cryptocurrency passed the $5.5 level. After breaking out of the first triangle, the price line moved downwards while it showed some retracement in 2020. In June 2020, the trading pair formed another triangular pattern on the daily chart which is marked as the smaller triangle on the above chart.
The analyst believes that EOS will breakout and fall towards the $0.4 level once this descending triangle in green completes its pattern.
EOS: what’s next?
Signal Source is another TradingView analyst and they’re also of the opinion that EOSUSD will see a downtrend soon.
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.