EOS Price Analysis – September 25
EOS/USD has recovered slightly after the recent sell-off. The market sentiments are still dominated by bears.
Resistance levels: $4.0, $4.5, $5.0
Support levels: $1.5, $1.0, $0.5
EOS has lost more than 21% of its value in the last 24 hours. Despite slow movements during the early hours of the day, the coin managed to recover from its lows and has gained about 2.3% since the beginning of the day. EOS ranks seventh on the cryptocurrency market with a current market value of $2.60 billion. At the time of writing, EOS/USD is changing hands at $2.84, up from $2.47 yesterday.
Moreover, the trading volume is still rising should the bull maintain the upward movement; the price may likely reach the resistance levels of $4.0, $4.5 and $5.0. More so, if the price moves contrary to the current movement and break down the channel, this could bring it back to the support levels of $1.5, $1.0 and $0.5 respectively.
Comparing with Bitcoin, the price is moving below the moving averages of 9-day and 21-day but with a bullish candle trying to recover from the sell-off that occurred a few days back. The stochastic RSI moves into the oversold which could aid the bullish movement of the coin. A possible drop may surface if the bulls fail to push the price to the north and the demand levels to watch for are 2700 SAT and 2500 SAT.
Nevertheless, any form of a rebound from the above-mentioned demands could push the EOS price to 4200 SAT supply level and above. But come to think of it, breaking the mentioned demand may drop the price to the new low of the month and send EOS in a bearish zone. However, the trading volume confirms a bullish movement at the moment.
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