EOS price analysis: EOS/USD giving back last weeks gains, runs into problems within mid $9 area
- EOS is on course to giving back all its advances made during last week’s trading.
- Profit taking post the eosDAC airdrop on April 15, bulls cashing in on their gains.
The EOS price is seen down just shy of 8% in the early part of trading for new week on Monday, on course to give back the advances that were made last week. Moving in lock-step with the large cooling of price seen across the crypto market.
Last week there was much anticipation ahead of the eosDAC airdrop on April 15, something that was very much influencing the price in its move north. It appears the bulls behind the move are now cashing in their profits.
EOS/USD has run into some firm resistance, which the price has struggled with on several occasions, seen in the early to mid-$9 zone. Next support tis eyed at $7.35, further to the downside would be back to $6, a complete reversal of last week’s bull run.
EOS/USD daily chart
Author
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.
