EOS Price Analysis: EOS/USD fails at the $3.10 resistance level and falls below the $3 psychological level

The RSI indicator has dipped into the oversold zone.
The bulls must protect the support at the $2.88 line to prevent further fall of EOS/USD.

Rajarshi Mitra Independent Analyst

EOS/USD daily chart

EOS/USD bears took control of the market following three bullish days. The price of the asset dropped from $3.09 to $2.94, falling below the $3 psychological level. The bulls need to protect the $2.88 support level to prevent further downward movement. The MACD shows increasing bearish momentum, while the RSI has dipped into the oversold zone, hinting that bullish correction may be round the corner.

Author

Rajarshi Mitra

Independent Analyst

Rajarshi entered the blockchain space in 2016. He is a blockchain researcher who has worked for Blockgeeks and has done research work for several ICOs. He gets regularly invited to give talks on the blockchain technology and cryptocurrencies.

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EOS/USD daily chart

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