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.
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.
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
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.
I believe that price will reach the $4.4 high of March during this week, and possibly move higher.
- The price is following an ascending support line.
- It recently broke out of a symmetrical triangle.
- There is no divergence developing.
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EOS Price Prediction: Will EOS Break Out Above the $4.7 Resistance? was originally found on Cryptocurrency News | Blockchain News | Bitcoin News | blokt.com.