EOS technical analysis: Bulls working overtime to push the price up.
|- EOS/USD went up from $6.56 to $6.72 in the early hours of Saturday.
- EOS/USD has had four bullish days in a row, wherein the price went up from $6.34 to $6.72.
EOS/USD daily chart
EOS/USD daily price is trending in an upwards channel formation after it had four bullish sessions in a row. Over the last four days, EOS/USD went up from $6.34 to $6.72. The price is sandwiched between the 20-day simple moving average (SMA 20) and the SMA 50 curves. The price is trending above the SMA 50 and SMA 200 curves. The moving average convergence/divergence (MACD) indicator shows that the signal line is about to cross over the MACD line, showing decreasing bearish momentum.
EOS/USD 4-hour chart
The 4-hour EOS/USD chart is currently trending below the red Ichimoku cloud. The latest session went past the resistance level at $6.55 and it needs to go past the resistance at $6.80 to continue the upward momentum. The 4-hour price is trending horizontally in the $6.15 - $6.60 range. The relative strength index (RSI) indicator has taken a sharp turn and entered the overbought zone.
EOS/USD hourly chart
The hourly EOS/USD price chart has had ten straight bullish sessions, which took the price above the upper curve of the 20-day Bollinger band. Since that meant that EOS/USD was overvalued, the bears stepped in, corrected the price and brought it back inside the Bollinger band.
The hourly price is trending above the 200-day simple moving average (SMA 200), SMA 50 and SMA 20 curves. The SMA 20 curve has crossed over the SMA 50 curve, which is a massively bullish sign. The Elliot oscillator has had eight bullish sessions in a row.
Key Levels
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