EOS Price Analysis – October 20
The EOS price is showing a remarkable improvement today as the coin begins a new upward movement.
Resistance levels: $5.2, $5.4, $5.6
Support levels: $4.0, $3.8, $3.6
EOS/USD is now moving towards an upward formation after having a bullish session since a few days ago. In the last few days, the EOS price has increased from $4.18 to touch a high of $4.83 resistance level. The EOS price is currently above the 9-day and 21-day moving averages as the signal line of the technical indicator Relative Strength Index (14) is preparing to cross above 60-level to indicate more bullish signals.
EOS Price Analysis: EOS Bulls May Keep the Upward Movement
At the time of writing, the EOS price remains above the 9-day and 21-day moving averages but if EOS/USD maintains the bullish trend, the bulls could push the coin towards the resistance levels of $5.2, $5.4, and $5.6. But should in case the EOS drops below the 9-day and 21-day moving averages within the channel, the price could return to support level at $4.0, $3.8, and $3.6 respectively.
EOS/BTC Market: Price Keeps Following Downtrend
Against Bitcoin, the coin is trading below the 9-day and 21-day moving averages as the technical indicator RSI (14) remains within the oversold region which may likely increase the bearish movement of the coin. However, a possible drop may surface if the price drops below the lower boundary of the channel, and further bearish movement may likely bring the coin to the critical support level of 600 SAT and below.
However, as the bulls make an attempt to push the coin higher, it may continue to push the EOS price towards the 9-day moving average. Once this comes to focus, the price could hit the resistance level of 800 SAT and above. More so, the trading volume could be coming up slowly and may start climbing higher as soon as the technical indicator leaves the downside.