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EOS (EOS/USD) Technical Analysis: Downside Pressure Capped for Now, Here is Why

  • The EOS price seen down a minor 0.6% in the session on Friday, $5 area still at jeopardy. 
  • EOS/USD downside pressure is being capped for now, price supported by a near-term ascending trend line.
  • The line of support has been running since 12th October, coming into contact on 15th and 19th. 

EOS/USD 60-minute chart 


 

Spot rate:                  5.4206

Relative change:      -0.65%

High:                         5.4838

Low:                          5.3290

Trend:                       Bearish/Neutral

Support 1:                5.3770, ascending trend line.

Support 2:                5.1622, support on 60-minute chart.

Support 3:                5.0000, 12th October low.

Resistance 1:           5.5018, 50MA 100MA (60-minute). 

Resistance 2:           5.6415, supply zone.

Resistance 3:           5.7900, resistance on 60-minute.

Author

Ken Chigbo

Ken Chigbo

Independent Analyst

Ken has over 8 years exposure to the financial markets. He started his career as an analyst, covering a variety of asset classes; forex, fixed income, commodities and equities.

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