EOS Price Analysis – January 24
EOS/USD has shown a remarkable improvement today after the coin dropped slightly for the past few days.
Resistance levels: $4.0, $4.1, $4.2
Support levels: $3.2, $3.1, $3.0
EOS/USD had a terrific week. There are some days when the coin was falling. Also, we have seen the coin recovering. Some days also allowed the momentum of EOS to be stable as it made some traders experience the adventure of trading in the crypto market. Moreover, after everything, today, EOS/USD was seen trading upwards and moving towards the 9-day moving average.
As for now, the coin is changing hands at $3.66 where it faces down. More so, if the price of EOS rises again and breaks the $3.8 resistance level, the coin may continue its upward movement to create a new high. More so, the nearest resistance levels to reach are $4.0, $4.1 and $4.2 while the support levels to watch out for are $3.2, $3.1 and $3.0 respectively giving a low trading volume as the stochastic RSI moves into the oversold zone.
Against Bitcoin, the coin is trading around the 9-day moving average but with more bullish candles. The stochastic RSI moves towards the downtrend which may likely halt the bullish movement of the coin. A possible drop may surface once the technical indicator crosses the 40-level, and further movement may likely hit the critical support levels at 390 SAT and 380 SAT respectively.
However, the bulls may have to gather enough momentum to be able to push the price to the north. If the bulls continue to move in an upward trend, they could push the price to the resistance level of 460 SAT and above. More so, the trading volume is coming up slowly and may start climbing higher as soon as the technical indicator turns upward.
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