EOS Technical Analysis: EOS/USD channel to the skies or down under?
|- EOS was seen trading down some 1.60% in the latter stages of trading on Wednesday.
- EOS/USD is moving within an ascending channel to the north. However, such pattern can be subject to a breakout to the downside at some point.
- The price was subject to some touted profit-taking, as seen across the board.
EOS/USD 4-hour chart
Spot rate: .5.6759
Relative change: -1.77%
High: 5.8377
Low: 5.6210
Trend: Bearish
Support 1: 5.5640, lower trend line of channel.
Support 2: 5.4157, 50 & 100MAs (4-hour).
Support 3: 5.2751, 3 November low.
Resistance 1: 5.8090, upper part of channel.
Resistance 2: 5.8377, session high (Wednesday) & resistance.
Resistance 3: 6.0000, psychological level & supply area.
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