EOS price analysis: Within the kissing distance of all time high; overbought signs visible
|- EOS is just a whisker away from all time high.
- Indicators turning overbought.
EOS, which has been rallying with leaps and bounds over the last few weeks, continues to do so even as the momentum indicators are signalling overbought trading conditions at a time when the price is within a kissing distance of all time high, if achieved then EOS would be the only crypto that would reach its all time highs after the severe correction that dogged the crypto world.
EOS/USD is up nearly 5 percent at $17.419 on Saturday after rallying 7 percent on Friday, about a dollar away from $18.67 - all time high hit in January this year. EOS is now the fifth largest cryptocurrency by market capitalisation with more than $14 billion in market cap, higher than Litecoin's $8 billion.
Given the velocity of price rise for EOS, now the only resistance it needs to cross is $18.67, everything else seems transitory. Support is firmly placed around $15.
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