EOS Marks an Intraday Bullish Move as it Hits the Major Resistance

EOS, at the time of writing, was trading at $3.10 on Bitfinex. With an intraday hike above $3, the trading volume and market cap have also spiked, as observed since yesterday. Yesterday, the currency marked an intraday high at $3.21 and is currently trending upwards as it breaks the major resistance around $2.8 price area. The coin has also been consistently giving lower lows in the latter half of the previous year; therefore, this hike seems to be real as BTC trades above $8,000 for the third day straight.

EOS Price Analysis

Analyzing the daily EOS/USD movement on Bitfinex, we see that the coin has been on a continual downswing after it had hit $8.6 in the bygone year. The continuous fall has led the coin to give consistent lower lows hitting major supports at $3.29, $2.43, and $2.20, until the last month of the previous year. We also see a narrow uptrend as the price of EOS has rightly taken a reversal and trades above $3. Thus, we foresee a moderate upsurge in the upcoming days. As per the 20-day Bollinger Bands laid on the price trend of EOS, we do not see a hint of volatility as the width of Band is normal. The coin is likely to face resistance at $3.717, as it grows further, as projected.

Technical Indicators

The technical indicators laid confirm the intraday bullish move of EOS against the US Dollar, as the MACD of the coin move above the zero-line and override the signal line.

The RSI of the coin is at 64.93 and is seen returning from the overbought region above 70 as the price mounted to $3.21 in the past 24 hours.