EOS price analysis: EOS/USD correcting lower, price seeking equilibrium after eosDAC airdrop
|- EOS/USD is dancing in the ranging channel between $9.0 and $8.0.
- The RSI is pointing downwards to signal that the sellers have the influence at the moment.
EOS price is down more than 3% in the last 24 hours although it is up more than 30% in the last one week. However, EOS/USD is dancing in the ranging channel between $9.0 and $8.0. The price is correcting lower towards the later as the traders seek an equilibrium following the recent spike.
The eosDAC airdrop was scheduled for April 15 and if the holders had more than 100 EOS tokens by yesterday, they should, therefore, expect to have a similar amount of eosDAC in the Ethereum wallet. For the holders with less than 100 EOS tokens are requested to apply for eosDAC tokens manually. EOS is committed to developing and achieving what they are calling full decentralization.
Technically, EOS price is trading below the 100 SMA which is preventing upside movement towards the resistance level $8.75. EOS has formed a short-term support $8.0, however, it is trading at $8.1 on the hourly chart. The bears are battling to push the price to equilibrium, consequently, the RSI is pointing downwards to signal that the sellers have the influence at the moment. The 200 SMA will support the price in the event of declines below $8.0 level at $7.5.
EOS/USD hourly chart
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