EOS’s price is dropping from its highs of $5.54 and is moving in a downtrend pattern. There has been the continuous formation of lower lows in the past few weeks, and the bears have constantly pushed the price down. The coin has breached the downtrend line and a bullish candle closed above it; still, the price couldn’t cross $2.76. The EOS coin is in its support zone with the current price of $2.24. In the last week, the price got tested at the support line but failed to decline further. Yesterday, the coin marked a price rise of 10%. From the past month, the price has been trading sideways in the range of $2.7 and $2.02.
In the above price chart, the MACD indicator indicates a positive momentum. The RSI indicator being 47 is currently neutral. There was a formation of the bullish engulfing pattern at the support zone yesterday, which can be an opportunity for the bulls as the price may rise. The price of EOS crypto has closed above $2.27 with a bullish volume. There is a formation of bullish divergence between the price and the RSI indicator; however, once the price closes above the peak of $2.7, a coin might recover considerably in the long run as per EOS price prediction.
From the above EOS chart, the bullish candle is being formed after the price gets rejected with a swing low at the support level. There has been the continuous formation of red candles from the past three weeks, and during the last week, the coin declined 22%. In the weekly chart, the coin has been in the sell zone since the last September, and though the bulls have tried to push the EOS price upside but have failed to do so, and swing highs were formed. EOS is trailing at a robust support line from where an upliftment in the coin took place several times in the past on the weekly chart.
The EOS/USD chart shows a sign for the bulls as the coin is at a crucial point from where a strong upside momentum can be expected; however, the investors can wait for the confirmation for the long run once the price closes above the top horizontal line of $2.76.
