EOS price hasn’t been doing too hot this month. Still in the top 10 cryptocurrencies at rank #8, EOS/USD is currently at $3.29 on Binance. After bottoming out at $3.2 a few hours ago, EOS has bounced back and is attempting to test the $3.3 resistance level. With decent volume currently on the market, EOS may just pull upwards past the $3.3 level. Let’s take a look at the charts and see if they tell us anything.
EOS Price Analysis
Relative Strength Index: The RSI is currently at a healthy 54 points. This means the market is stable, yet has enough power to make a move again. We’ve see the RSI hover above the 50 range for quite some time, meaning the market does want to make a move.
Bollinger Bands: The price did touch the lower band earlier and quickly rebounded to the MA line, where its at now. If the RSI keeps rising we should see the price test the upper bollinger band and potentially test the $3.3 resistance.
Volume: The volume is actually relatively impressive given the sideways trading. There’s quite a bit of volume and I’m surprised the market hasn’t moved more.
EOS Price Prediction
My opinion is that EOS will see some positive momentum in the coming hours. Since Bitcoin is on a bull run right now, altcoins are bound to follow. While altcoin season has been quite bad lately, EOS has been doing a relatively good job staying stable.
The current price of $3.2 has a long history for EOS so the support at that point is solid. If Bitcoin pumps high enough, I believe EOS will follow.
Disclaimer: This is not trading or investment advice. The above article is for entertainment and education purposes only. Please do your own research before purchasing or investing into any cryptocurrency or digital currency.
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