EOS Price Analysis – March 27
The fourth largest crypto-asset has gained 11.03% in the last 24-hours after flagging on a medium-term perspective; now moving upward. The bullish play out has marked EOS’s price at $4. After a short-term retracement, the token is likely to resume the upward direction. As of the time of writing, EOS market appeared to be following a bullish sentiment.
Resistance levels: $4.2, $4.4, $4.6
Support levels: $3.8, $3.6, $3.4
As appeared on the 4-hours RSI, EOSUSD maintained a side-way trend since early March spike, which was exhausted at $3.8 high before carving a wedge pattern. Afterward, the trading volatility appeared weak as a result of an inactive session; witnessing a substantial low volume size. Currently, EOS’s price is valued at $4
Today, EOS breached the upper trend lines with a strong bullish candle; now retracing to $3.8 before the rally continues to hit $4.2 and beyond. The 4-hours RSI is currently revealed at the overbought area; a bullish move is signaled. Dropping below $3.8 could send the token back to a side-way trend.
Additionally, the 4-hours Stochastic RSI is reflected at the overbought level; signaling a potential retracement. As of now, EOS market has signaled a bull-run.
Pairing Bitcoin, EOS has been flagging in a triangle pattern for the past three weeks following a sudden rise up early this month as the market reaches the end of the angle with choppy price action.
On Monday, EOSBTC closed above the top trend line with a strong bullish candle and has since been trading above the triangle; touching 10400 SAT high in the last four hours. The next key resistance level is 10600 SAT resistance. The 4-hours Stochastic RSI suggests a possible drop; 9600 SAT and 9200 SAT supports are in view.
A rebound from the above supports could send the price to 10600 SAT resistance. Breaking the mentioned support may drop the price to the early March low at 8600 SAT; send EOS in a bearish zone. However, the upward direction of the 4-hours RSI confirms a strong bullish move.
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