EOS Price Analysis – September 5
The price of EOS is yet to fetch any significant growth as the loss percentage stands at 0.5%.
Resistance levels: $3.5, $3.7, $3.9
Support levels: $2.4, $2.2, $2.0
EOS/USD bulls could not sustain the price above the $3.1 resistance level because of the technical indicator RSI (14). Since September 2, the coin has been facing a bearish trend but now, the price is consolidating below the 9-day and 21-day moving averages at $2.99 after touching a daily high of $3.15.
What is the Next for EOS/USD?
EOS/USD is range-bound within the channel as the bears may eventually break down the former support level of $2.5 at a slow rate. The coin is currently consolidating at the support level of $2.99. However, should the bears cross below the lower boundary of the channel; the price may reach the support levels at $2.4, $2.2, and $2.0.
More so, if the price moves contrary to the current movement and trade above the 9-day and 21-day moving averages, this could take it to the resistance levels of $3.5, $3.7, and $3.9 respectively. Currently, the RSI (14) is seen moving below 50-level, more bearish signals may play out.
EOS/BTC Market: Consolidating to the Downside
Against Bitcoin, the coin is moving above the 9-day and 21-day moving averages with a bullish candle trying to recover from the sell-off that occurred some days back. The RSI (14) is moving around 50-level which could aid the bullish movement for the coin.
Meanwhile, a possible drop may surface if the bulls fail to push the price to the north and the support levels to watch for are 260 SAT and 250 SAT. Breaking below the mentioned support may likely drag the price to the new low of the month which may send EOS in another bearish zone.