The EOS price spent the 6th of May while trading above the $2.760 level, the cryptocurrency appeared bearish as soon as the day closed. EOS recovered its price towards the $2.730 level before approaching the time of closure. The Relative Strength Index (RSI) appeared bullish throughout the day, while it turned highly bearish at the time of closure.
1-Day EOS price analysis (6th May)
The moving average indicators showed a smooth trade for the 6th of May. The moving averages turned bearish near the time of closure, where the EOSUSD pair fell below the $2.620 level. The Relative Strength Index (RSI) appeared bearish at this time, where it reached a low of 8.88, thus showing an extremely oversold EOS.
The EOSUSD pair remained above the $2.760 level for all of the day’s trade after starting the trade near the $2.780 mark. EOS approached a high of $2.827 US Dollars. At the time of closure, the cryptocurrency immediately fell below the $2.620 level and thus, it met a day’s low of $2.609 US Dollars.
EOS: what’s next?
readCrypto is a TradingView analyst who believes that EOS will fall soon If there is no support at $2.6883.
The crypto analyst also stated the coin will fall drastically if there is no support $2.6883. This idea is still in play since the cryptocurrency continues to trade above the $2.720 mark.
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.