- EOS seen a 7-day cost increase of approximately 11. 30%, bringing its cost around $3. 10.
- The cryptocurrency fell over a 6-month old descending price channel this past week.
- Against Bitcoin, EOS was able to crack above a 5-month old symmetrical triangle pattern since it heads greater.
Key Support & Resistance Levels
Support: $3. 10, $3. 00, $2. 64.
Resistance: $3. 20, $3. 40, $3. 67.
Support: 0. 000373 BTC, 0. 000335 BTC, and 0. 000316 BTC.
Resistance: 0. 000405 BTC, 0. 000418 BTC, and 0. 000432 BTC.
EOS/USD: Breaks Above 6-Month Old Descending Price Channel! )
The daily graph above reveals EOS rebounding in the 2. 16 level, from our final analysis at December. The cryptocurrency continued to climb then and moved on to shut the year round the 2. 60 level. As 2020 began, EOS continued to grow higher because it broke over the 100-times EMA at about $3. 00. It also was able to climb over the 6-month old descending price channel.
In that the brief term, EOS is currently regarded as bullish, but it must pass the November high at about $3. 60 to turn over the longer interval. If EOS was supposed to drop back under $3. 00 it’d turn impartial with a further fall beneath $ two. 16 turning the marketplace .
EOS Short Term Price Prediction
EOS has met resistance at $3. 20 which led to the market to fall slightly in the present session. However, when the bulls can muster and grow over $3. 20, the next level of immunity is located at $3. 40 (200-times EMA). Above that, immunity is located at $3. 51, $3. 67, and $3. 85. Alternatively, when the vendors push EOS under the service in $3. 10, first support is located at $3. 00. Beneath $3. 00, additional service is located at $2. 64 and $2. 16.
The RSI has pulled back from extreme overbought states but remains at the bullish favor. So long since the RSI can stay over 50 about the pullback, we could anticipate EOS to continue to produce its way toward $3. 60. However, that the Stochastic RSI can be in overbought conditions and can be primed for a bearish crossover sign that could send the market lower. This might imply that EOS may be somewhat overextended right now and might want to pull back slightly before having the ability to climb farther greater.
EOS/BTC: Breaks Symmetrical Triangle Pattern
Against Bitcoin, EOS was immobilized inside a 5-month old symmetrical triangle pattern because it continued to bounce between both borders in consolidation. However, this week, EOS was able to break above the top border of the triangle as it approached the apex. EOS lasted to breakout greater as it passed over the 100-times EMA to make it to the present trading degree of 0. 000385 BTC.
As EOS broke over the triangle, the marketplace can be regarded as bullish in the brief term, but it has to split preceding 0. 000405 to have a long-term bullish effect. Alternatively, if EOS was supposed to fall under 0. 00034 BTC, it’d turn bearish.
EOS Short Term Price Prediction
If the bulls are still climb higher in the present service, instant immunity is to be anticipated in 0. 000405 BTC. This level supplied considerable resistance for the marketplace during September and November and is forecast to offer equivalent immunity moving ahead. Above that, immunity is located . 000418 BTC and 0. 000432 BTC (additionally 200-times EMA). On the flip side, if the vendors regroup and push the market lower, first support is situated in the 100-times EMA at approximately 0. 000373 BTC. Beneath that, additional service is located at 0. 000335 BTC, and 0. 000316 BTC.
The RSI stays within the bull’s favor since it trades over 50. EOS will stay bullish as long as it could stay over 50 on the rally.
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Cryptocurrency graphs by TradingView.
Technical evaluation tools by Coinigy.