EOS Gains Over 8% in 5 Days; Trades Around $2.5

EOS, one of the top profit-making smart-contract platforms amongst the top 15 cryptos of the market, is now trading just like any other altcoin of the market with a bearish crossover. However, the intraday has been drawing a positive sentiment over the past four days against the US Dollar.

Although the 2-month movement of EOS/USD shows a gradual pullback on the 5-hourly chart, the past 5-day movement has gained over 8%, and the currency is now trading above $2.5. Moreover, the entire crypto market faces a griming set back along with the major cryptocurrency by market capitalization—Bitcoin, which is currently trading slightly above $10k.

EOS Price Analysis

EOS Price News
EOS/USD Chart By TradingView

On the daily chart, EOS/USD is seen drawing a downward slope from the 5-month high hit in the previous month around $4, from the bottom of $1.3 in March. With almost three months of sheer consolidation, the EOS coin could manage to spike as high as $4 in the previous month and is back to trading below the major support, i.e., $3.

However, at the onset of the year before the major market crash, as per EOS forecast price was seen hitting a high at $5.50, but the coin lacks traction, and with a stringent resistance, it rejects a bullish crossover above $4. Moreover, the price trend of EOS/USD also breached the lower BB until the intraday price strengthened.

The MACD indicator draws an intersection as the signal line, and the MACD line appears flat due to consolidating yet a bearish divergence. The RSI is seen rising from the bottom and is lying at 42.25 with a spike in the price of EOS against the greenback.

EOS News Price

EOS slides from the top of $4, and if we draw an intersection with the YTD movement on the daily chart, we see a clear yet slight rise over the period of the last five days. Around the current trading price, EOS gains slight support from MA50 but lacks MA200 support due to trading below $3.

However, the MACD indicator exhibits a slight bullish divergence due to intraday rise in the price. The RSI of EOS on the 5-hourly chart is at 56.67 and inclined towards the overbought region in the short-term.

Mehak Punjabi

Mehak Punjabi is a post graduate in MBA with specialization in Finance and has joined CryptonewsZ with a skill building view in the world of cryptocurrency and blockchain. She is dynamic and a quick learner with a hold on financial analysis.

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