EOS price analysis: Consolidation continues; buying time before hitting the roof again

Among the gainers, continues to buck the trend.
Short term consolidation, long term upmove intact.

Manoj B Rawal Independent Analyst

EOS, being true to its colour of being different from the crowd, continues being so on Tuesday as well. While it continues to consolidate its gains of past few weeks and seemed to have broken down of an upward sloping channel on the short term charts, long term bullish trend has only been delayed for now.

EOS/USD is up more than a percent at $18.03, but is below its resistance line at $20 levels now and which was acting as a support earlier. Bulls, for now are in the holiday mood and its only a matter of time before they return back and take this crypto back to where it was - all time highs.

Immediate resistance now is around $19.00 which needs to cross before it tries hitting the earlier support, now resistance line of $20. Strong support stands around $17.

EOS/USD 240-minute chart:

Author

Manoj B Rawal

Independent Analyst

Manoj B Rawal, financial markets professional with about 11 years of experience in writing, editing and advising on stocks, currencies and fixed income.

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