EOS price analysis: minimal strength of $5.22 regained by bulls
3 min readTL;DR Breakdown
- Slight rise in price levels have been observed today.
- The price levels have risen to $5.2 level, according to EOS price analysis.
- Reasonable amount of support is found at $4.73.
The 1-day and four-hour candlesticks charts showing EOS price analysis are going strong for the bulls. The latest updates show that the price has increased up to $5.2, which is a great improvement considering the past trends. There is an imminent possibility that the price levels can cross the resistance found at $5.47 in the near future. There has been a constant rise in the price today, with a sudden appearance of bearish candlesticks all over.
1-day EOS/USD price chart: Bears showcase resistance, drop the value to $5.2
The 1-day price chart showing EOS price analysis is informing us of the building bearish momentum. The price levels have unexpectedly lowered to $5.22 after a strong recovery was observed during the past few days. The bearish pressure has taken the price levels slightly below the Moving Average (MA) value i.e. $5.23. The volatility is also towards the bearish side, and which is not a positive signal for the buyers. Moreover, the Bollinger band average has also increased to $4.72, as seen from the chart.
The Relative Strength Index (RSI) score on the other hand seems promising at 61.54, as the past days have been supportive for the bulls. The Bollinger bands seem to be expanding, and the upper Bollinger band has reached the value of $5.79 whereas the lower band has reached $3.65 of value.
EOS price analysis: Bulls win back momentum after a bearish slope
The 4-hours chart showing cryptocurrency progress is hinting at a remarkable improvement in the coin value. The most recent analysis shows that the price has increased to $5.22, after overcoming a loss in the last hour. The bullish trend has been strong as the price has crossed the mean value; moving average which is at $5.12. The future does not bring surety for the bulls, as the Bollinger bands are narrowing down, and their average has reached $5.10.
The Bollinger bands values for today are as following; the upper band is present at $5.47 and the lower band is currently present at $4.73. The RSI curve is also flattening and the score is fixed at 52.62, in the 4-hours price chart.
The technical indicators chart for today is showing a positive inclination towards the buyers’ side. There has been strong competition created from the sides of buyers, as the summary states that 15 indicators are on the buying side, 10 on the neutral, with only one on the selling side. The Moving Averages indicators are also showing a strong bullish signal, with 14 indicators at the buying position, one at the neutral, and none present at the selling position.
The oscillators are at a neutral state, as the pressure from both sides has been equal today. There is a total of nine indicators that are neutral, one is on the selling side and the remaining one, on the buying side.
EOS price analysis conclusion
From the 1-day and 4-hours price charts, it is evident that the bulls are regaining their strength after going through a major loss. The price levels have climbed up to $5.22 today, and there are encouraging signs present for the buyers to step in. The resistance spotted at $5.47 can be overcome easily if the price levels keep rising at their current pace. This can only be possible if the bulls continue their journey and keep the support levels to $4.73, for better outcomes.
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