The price of EOS is rising dramatically. The creation of the double structure near $1.38 resulted in a 35% increase to $1.80 highs. However, the bulls are running into opposition at the moment. The EOS currency is currently trading at $1.74, up 5.73% for the day.
EOS pricing expects gains to be extended.
On the daily chart, EOS price has created a ” Cup & Handle” pattern, which is a bullish continuation pattern. The price broke below $1.91 in May 2009 and has been consolidating since then. EOS attempts to break above this provided level, but is met with severe selling pressure and falls again, eventually finding support near the lower levels. The purchasers were able to convert $1.9 support into resistance.
Further, the coin traded above the 200-day exponential moving average. According to this pattern, If the price is able to break above this the session’s high, with rising volumes, then we can expect a good bullish momentum up to the previous swing high.
EOS formed a “Double Bottom” structure on the four-hour chart. The price is currently experiencing resistance from its previous swing high. EOS is seeing higher highs and lower lows. There is a good chance that the price will break out above its recent swing high with higher-than-average volume.
The nearest level of support is $1.60, while the highest level of comparable opposition is $1.95.
A break below the $1.60 mark, on the other hand, might undermine the bullish prognosis. In addition, the price could fall to $1.36.
On several time horizons, EOS is positive. We can enter a buy trade if the price closes above $1.91 on the hourly time period.