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.
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.