EOS Price Analysis: EOS Holds Support At $2. 42 But Can The Bulls Push Any Higher? ) )

  • EOS discovered a little development of 5. 25% over the past 24, and it now trades at $2. 42.
  • The cryptocurrency is trading sideways against BTC within a 6-month old symmetrical triangle.
  • EOS has been raising the rankings as it reaches the 7th position utilizing a $2. 28 billion market cap.

Key Support & Resistance Levels

EOS/USD

Support: $2. 16, $2. 05, $1. 80.

Resistance: $2. ) 64, $3. 00, $3. 15.

EOS/BTC:

Support: 0. 000332 BTC, 0.000316 BTC, 0. 00030 BTC.

Resistance: 0. 00036 BTC, 0. 00038 BTC, 0. 0004 BTC.

EOS/USD: Finds Support At 2019 Lows

The daily chart above shows that EOS has been trading within a downtrend within the preceding six months. The cryptocurrency recently found support at $2. 16, that is supplied by way of a disadvantage 1. 618 Fibonacci Extension level. This also seems to function as 2019 low price.

If EOS have been to drop beneath $2. 16, the market would stay to be more bearish. For it to be considered bullish, EOS need to grow and break over the top edge fo the descending channel in roughly $3. 20.

EOS Short Term Price Prediction

If the bulls can rebound from this level of support and also maintain greater, an initial immunity is located at $2. 62 and $2. 80 (December drops ). Above that, resistance is situated at $3. 00 and $3. 15 (100-instances EMA). Alternatively, toward the downside, first service is probably at $2. 16. If the sellers split under here, additional service is projected at $2. 05, $180, and $1. 76.

The RSI has started to develop from oversold conditions, which demonstrates the selling momentum is fading. However, the RSI must break on the 50 level to validate the bulls are taking control. Furthermore, the Stochastic RSI recently generated a bullish crossover signal which could aid the business start to grow greater! 

EOS/BTC: Trapped Within 6-Month Symmetrical Triangle

eosbtc-dec19

Against Bitcoin, EOS was immobilized within a symmetrical triangle into its last 6-months of trading. It recently found support from the lower edge of the triangle and saw a brief rebound higher. The 1. ) 272 Fib Extension level further strengthened this area of service.

This market is considered as impartial in front of a breakout of the triangle. To turn bullish, the coin must break over the top border . 000383 BTC. If EOS should chance to fall underneath 0. 000332 BTC, the marketplace could be considered bearish.

EOS Short Term Price Prediction

If the sellers do end pushing EOS below the service 0. 000332 BTC and beneath the triangle, immediate support are seen in 0. 00316 BTC (. 886 Fibonacci Retracement level ). Beneath that, service can be found at 0. 000305 BTC (disadvantage 1. ) 414 Fib Extension) and 0. 00030 BTC. 

Alternatively, if the bulls regroup and start to induce greater, instantaneous resistance is probably at 0. 00036 BTC. Above that, resistance is situated. 00038 BTC (upper edge and also 100-occasions EMA), along with 0. 0004 BTC.

The Stochastic RSI is primed for a bullish crossover signal that ought to see the market heading toward the upper edge of this triangle.

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Cryptocurrency charts by TradingView.
Technical analysis tools by Coinigy.

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