EOS price prediction: Crypto soon to hit $3.2, analyst
3 min readTable of Contents
- EOS price prediction optimistic for $3.2.
- EOS finds strong resistance at the $2.67 mark.
- Strong support is found at the $2.65 mark.
The EOS price prediction by Rocket Bomb suggests that the crypto will break upwards from a big falling triangle, after which the price will rise towards the $3.2 mark. The cryptocurrency rose towards the $2.665 level on the 24th of October.
1-Day EOS price analysis
EOS was priced at $2.65 at the time of writing. The highest price for the 24-hour trade was recorded at $2.663.
EOS price prediction: Rise to $3.2 ahead?
A falling triangle pattern was highlighted on the daily time frame for the EOSUSD pair by the Trading View analyst Rocket Bomb. The crypto analyst believes that the price will soon test the upper boundary of the falling triangle and then move out of it to rise upwards.
Per the analyst, the cryptocurrency has been trading inside this big triangle pattern since July 2020. The 40-Day Exponential Moving Average currently supports the price, and it tests the upper boundary near $2.66. The histogram size appears to be increasing in the positive region, and the Moving Average Convergence Divergence (MACD) line has bounced off the signal line and appears to have started to move upwards.
The price is expected to break upwards from here, and then higher levels will be tested. For this trade, the final take profit lies at $3.21.
EOS to see a price ascension to $2.97
The Trading View analyst DLavrov expects the LTC price to rise towards the $2.96 level soon. The price varies inside the range $2.402 to $2.969.
Per the analyst, the price varies on the top of an ascending trendline, and it will eventually move upwards to rise to the $2.965 target. This is where the top of this range lies. The Moving Average Convergence Divergence (MACD) line appears to be crossing above the signal line, and the histogram size has begun to decrease in the negative region. This is a bullish sign for the cryptocurrency.
The Relative Strength Index (RSI) observed an upward move, though it still lies near 60.00, which is the neutral zone. This means that the coin was neither oversold nor overbought. The analyst drew their analysis of the EOSUSD pair on the 4H timeframe. The stop-loss order was marked at $2.57
What to expect from EOS?
Project Syndicate drew an ascending channel for the LTC price, and the cryptocurrency appears to be trending upwards towards the $2.77 mark.
The price is expected to hit key resistance near the $2.8 mark, after which it will start to gain major resistance here. Per the analyst, this is a short opportunity for the EOSUSD pair, and the price will see a 20% to 25% correction after reaching the end of the ascending channel.
The analyst suggests traders to get ready to short the price from a high near the $2.8 resistance. The take profit lies at the bottom, near $2.15. This trade will be invalidated if the price breaks above the $2.8 resistance and closes there.
Disclaimer: The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.
