EOS Price Analysis – August 25
EOS has currently taken a slight drop in the intraday market. The coin is speculated to have a great future, but the current scenario is scaring.
Supply levels: $4.2, $4.4, $4.6
Demand levels: $2.8, $2.6, $2.4
On August 23, the bulls could not sustain the price above the $3.8 supply level because of bearish pressure. The crypto’s price had earlier risen after a bullish engulfing candlestick appeared on that same day. The price of EOS reached a high of $3.86 but could not sustain its upward move.
However, if the price of EOS rises and breaks the $3.7 supply level, the cryptocurrency will resume its upward move to retest the previous high. The nearest supply levels to reach are $4.2, $4.4 and $4.6 while the demand levels to watch out for are $2.8, $2.6 and $2.4 respectively as the RSI (14) is moving below level 40.
Comparing with BTC, the market price remained and trading within the channel for since August 9, the price is currently trading at 3524SAT and expecting a break out above the 21-Day Moving Average. Looking at the chart, we can see that both the bears and the bulls are fighting on who will control the market.
However, if the market drops, the next key supports will likely be at 3000SAT and below. On the bullish side, a possible rise could bring the market to resistance levels of 4000SAT and 4200SAT. According to the daily stochastic RSI, the market is already in the overbought zone, which could trigger a sell on the market soon.
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