Following yesterday’s huge buy-off, EOSUSD and EOSBTC are now on a retracement move to the nearest support levels before bullish continuation. Further EOS surge in price might be ahead.
Resistance levels: $3.8, $4, $4.5;
Support levels: $3.4, $3, $2.7;
Over three months, EOS has been trading below $3, a tough resistance level for the cryptocurrency to surpass. But yesterday, the level recorded a massive break-up which lasted to $3.8 on a wick. The bull actually won the long battle. But now, the Stochastic shows a weak momentum from the buyers. There might be a Short-term pull back to $3.4 support level 1.
Looking at the four hours RSI, the price action is now around the overbought; a retracement move would probably reach the closest support level 1 before rally continues. If bounce up failed, the retracement might last to $3 support level 2.
However, the bull dominance is increasing by volume. Yesterday’s spike was much-anticipated for, and confirmation for bull-run. The next key resistance level is $3.8 and beyond. That should be expected shortly.
Breaking 0.00074 BTC resistance early this month, this pair has remained in a bullish trend. The push which ended at 0.00095 BTC yesterday is now followed by a low swing. The bearish move would found supports at 0.00085 BTC and perhaps 0.00077 BTC, depending on the buyers’ reaction. See the RSI indicator signaling a decline. The price would experience a short.
Currently, the bulls are on the watch to regain market control. But it seems the bears are positioning the trade in a pullback. In a short time, the pullback is expected to finish as for buyers to take the market higher. Anyways, they seem to be waiting patiently for a smart entry.
As suggested by the RSI, EOS price is apparently in the overbought area; now facing down. This simply indicates the market is about to make a low move. As appeared on the chart, a red candle is forming slowly.
Aside from surging EOS price and 46% gains in the last 14 days, the asset has also overtook Litecoin and now ranks in 4th place among the top-rated crypto-assets globally. Currently, according to coinsrates EOS price is $3.493 with a marketcap of $3.61 B. Its price is 18.00% up in last 24 hours.