EOS News

EOS Faces a Strong Resistance at $3 & Continues to Trade Sideways

EOS, at the time of penning down this article, was trading at 2.496 against the US Dollar and retained no support from 50-day and 200-day daily moving averages. If we emphasize on Month-to-Date price movement of EOS against the greenback, we see that the currency is seen underperforming at present when compared with the early weeks of the month.

Also, EOS is not amongst those altcoins of the market that has surpassed the performance and momentum of Bitcoin to hit fresh highs and breach stringent resistances. EOS is seen as having a concurrent momentum with Bitcoin over the past 25 days and lacks support.

EOS Price News
EOS/USD Chart By TradingView

In the above chart of EOS in comparison with BTC against the US Dollar, we see that the former is oscillating in a range of $2.42 and $2.62 with almost a flat momentum and similar dips and rise. Comparatively, Bitcoin is also holding approximately similar setbacks and price rise within the given similar duration. But EOS is comparatively more volatile than the Bitcoin price trend as per the recent price movement.

EOS Price Analysis

EOS News Price

On the above 3-hourly chart, EOS is appearing volatile against the US Dollar as per the laid 20-day Bollinger Bands that are seen widening. However, the intraday setbacks have led to losing support from 50-day and 20-day daily MAs after plummeting from $2.7 price area. Over the past month, EOS coin has been exhibiting complex price trends due to volatility against the US Dollar.

The major support to watch out for lies at $2.2 and $2 while the major resistance is at $3, and in comparison, to the resistance price, the coin has been trading sideways with the highest at $2.9. The MACD chart of EOS is holding a bearish crossover due to a recent fall below $2.45, and the RSI is lying at 40.29 and is inclined towards the selling zone around 30.

Mehak Punjabi

Mehak Punjabi is a post-graduate in MBA with a specialization in Finance and has joined CryptonewsZ with a skill-building view in the world of cryptocurrency and blockchain. She is dynamic and a quick learner with a hold on financial analysis.

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