EOS Price Analysis – June 29
EOS/USD is being attacked by the bears just as many of the coins in the crypto market as the price goes down with its intraday movement.
Resistance levels: $2.5, $2.6, $2.7
Support levels: $2.2, $2.1, $2.0
EOS/USD sudden drop disappointed the traders as the market continued with a downtrend today. However, a slight improvement has been felt as the coins changed and turned green yesterday, but the chances of getting a profitable intraday closure are much lower.
As for now, the coin is changing hands at $2.33 where it faces down. More so, if the price of EOS rises again and breaks the $2.4 resistance level, the coin may continue its upward movement to create a new high. More so, the nearest resistance levels to reach are $2.5, $2.6, and $2.7 while the support levels to watch out for are $2.2, $2.1, and $2.0 respectively giving a low trading volume as the RSI (14) moves below 35-level.
Against Bitcoin, the price is moving below the 9-day and 21-day moving averages but with a bullish candle trying to move towards the moving averages above the channel. The technical indicator RSI (14) is moving towards the oversold zone which could still inject more bearish signals into the market. A possible drop may surface and the support levels to watch are 240 SAT and 230 SAT.
However, if the bulls continue to move in an upward trend, they could push the EOS price to the resistance level of 275 SAT and above. The bulls may have to gather enough momentum to be able to push the price to the north. Nonetheless, the trading volume is coming up slowly and may start rising once the technical indicator turns upward.