EOS Price Analysis – May 30
EOS/USD is showing a remarkable improvement today after the coin dropped slightly for the past few days.
Resistance levels: $3.0, $3.1, $3.2
Support levels: $2.3, $2.2, $2.1
The price of EOS has been moving towards an upward formation after having a bullish session of a few days ago. In the last three days, the EOS/USD has increased from $2.5 to $2.7. The price is above the moving averages. The signal line of the technical indicator RSI (14) is preparing to move above the 60-level, indicating upward momentum.
However, if the EOS price tried to maintain its bullish trend, the bulls would reach the resistance level of $3.0, $3.1, and $3.2. But the price of the EOS should show a fluctuating movement along with the daily chart, which could return it to support level at $2.3, $2.2 and $2.1 respectively.
Against Bitcoin, the coin is trading above the 9-day and 21-day moving averages as the technical indicator RSI (14) moves towards the north which may likely increase the bullish movement of the coin. A possible drop may surface once the price drops below the 9-day and 21-day moving averages, and further movement may likely hit the critical support levels at 250 SAT and 230 SAT respectively.
However, the bulls may have to gather enough momentum to be able to push the price above the channel. If the bulls continue to move in an upward trend, they could hit the resistance level of 320 SAT and above. More so, the trading volume is coming up slowly and may start climbing higher as much as the technical indicator keeps the uptrend.
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