Loading

wait a moment

EOS Price Prediction: Will EOS Break Out Above the $4.7 Resistance?

bitcoin social trading

Long-Term Outlook

EOS Weekly Chart – Source Tradingview.com

A look at the Weekly chart for EOS shows that price is trading slightly below the minor resistance area at $4.7.

The price is trading above the  21 period moving average but below the 50 period MA.

There is support near $2 and $1.1

The RSI is at 51, indicating neither overbought nor oversold conditions.

The MACD is moving upward with strength but is not positive yet.

Medium-Term Outlook

EOS 3-day Chart – Source Tradingview.com

A look at the 3-day chart shows that price has moved above the 2 and 50-period MAs which have made a bullish cross.

Furthermore, we can see that the price has been following an ascending support line for the past 104 days.

The MACD is positive but seems to be losing strength.

Similar to the weekly chart, the RSI does not show overbought or oversold conditions.

EOS Daily Chart – Source Tradingview.com

A look at the Daily chart gives a more bullish outlook.

Price broke out above the 200-period moving average today.

Furthermore, the MACD made a bullish cross, supporting the further upward movement.

There is no divergence in the RSI yet.

Short-Term Outlook and Price Prediction

EOS 6-hour Chart – Source Tradingview.com

A look at the 6-hour chart shows that price is following another support line since February.

Further, it shows that a breakout from a symmetrical triangle has occurred today.

Price Prediction:

I believe that price will reach the $4.4 high of March during this week, and possibly move higher.

Conclusions:

  • The price is following an ascending support line.
  • It recently broke out of a symmetrical triangle.
  • There is no divergence developing.

Latest EOS News:

  • Ethereum [ETH] & EOS Price Action – Quick Crashes and Recoveries For Both

DISCLAIMER: Investing or trading in digital assets, such as those featured here, is extremely speculative and carries substantial risk. This analysis should not be considered investment advice, use it for informational purposes only. Historical performance of the assets discussed is not indicative of future performance. Statements, analysis, and information on blokt and associated or linked sites do not necessarily match the opinion of blokt. This analysis should not be interpreted as advice to buy, sell or hold and should not be taken as an endorsement or recommendation of a particular asset.

EOS Price Prediction: Will EOS Break Out Above the $4.7 Resistance? was originally found on Cryptocurrency News | Blockchain News | Bitcoin News | blokt.com.

start trading binary options