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- 1 EOS price showcased buying momentum and reveals an uptrend.
- 2 Buyers have persisted in gaining traction and look enormous.
EOS price displayed bullishness and is trading inside the rising parallel channel in the recent sessions. Buyers look aggressive and persist in gaining above neutrality. Furthermore, the EOS price continued spreading bullish moves inside the channel. However, in yesterday’s trading session, an inverted hammer in the form of rejection was noted from the upper trendline near $0.900.
EOS price is trading above the significant moving averages, revealing bullishness on the chart. Moreover, the trend is strong, and further buying momentum will take off EOS price to surpass the immediate swing hurdle of $0.900 and will claim the round mark of $1.000 soon. Per the Fibonacci retracement levels, the EOS price is close to 61.8%, but failed to surpass and hover near it.
The live price of EOS crypto is $0.849, with an intraday gain of 6.37%, showing bullishness on the chart. Moreover, the trading volume increased by 13.47% to $229.73Million. However, the pair of EOS/BTC is at 0.0000197 BTC, and the market cap is $848.25 Million. Analysts have maintained a bullish rating, suggesting that the outperformance will continue in the following sessions.
EOS on Daily Chart Exhibits Rising Parallel Channel
On the daily chart, EOS price recovered from the lows of $0.500 and healed over 60% in recent sessions. Furthermore, the trend reveals buying momentum and a trend reversal. The technicals suggest that the EOS price will continue to rise sharply and retest the highs of $0.90 in the upcoming sessions.
The relative strength index (RSI) curve is in the buying range above the midline and forms a positive divergence, highlighting buying momentum on the chart. The MACD indicator displayed an optimistic outlook, forming green bars on the histogram, confirming the bulls’ dominance.
EOS on Weekly Chart Shows Falling Wedge Breakout
On the weekly chart, EOS price broke out of the trendline hurdle of $0.700 above the 20-day EMA barrier and displayed a breakout of the falling wedge pattern in recent sessions. However, the EOS price was facing the 50-day EMA as the upward momentum paused in yesterday’s session.
Summary
EOS price continued stretching the gains and resumed the upward momentum, depicting an uptrend on the chart. Moreover, the price action demonstrated the bulls’ dominance as bulls have gained traction and set their eyes on the swing barrier of $1.0000. The indicators are giving positive signals.
Technical Levels
Support Levels: $0.0800 and $0.720
Resistance Levels: $0.900 and $1.000
Disclaimer
The views and opinions stated by the author or any other person named in this article are for informational purposes only and do not constitute financial, investment, or other advice. Investing in or trading crypto or stocks comes with a risk of financial loss.
With a background in journalism, Ritika Sharma has worked with many reputed media firms focusing on general news such as politics and crime. She joined The Coin Republic as a reporter for crypto, and found a great passion for cryptocurrency, Web3, NFTs and other digital assets. She spends a lot of time researching and delving deeper into these concepts around the clock, and is a strong advocate for women in STEM.