EOS price analysis: EOS/USD lethargic and range-bound
- Litecoin defends trendline support amid sideways trading movement.
- LTC/USD immediate upside capped at $3.2 while the range limit at $3.0 provides support.
EOS is trending higher from the recent low of $2.4. However, movement north has been limited at $3.4. EOS is also consolidating within a narrow range between $3.0 and $3.2.
The price is trading slightly above the 50 Simple Moving Average (SMA) on the four-hour chart. The 100 SMA is in line to offer support at $3.039. Also offering immediate support is the 38.2% Fib retracement level taken between the last swing high of $4.24 and a swing low of $2.4.
The Relative Strength Index (RSI) is moving downwards at 50 and is a signal for an ongoing bearish momentum. If the downward slopping continues EOS could retest the ascending trendline support. The Moving Average Convergence Divergence (MACD) is leveling at 0.000 which currently signifies a possible consolidation and sideways trend.
EOS/USD 240’ chart
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Author
John Isige
FXStreet
John Isige is a seasoned cryptocurrency journalist and markets analyst committed to delivering high-quality, actionable insights tailored to traders, investors, and crypto enthusiasts. He enjoys deep dives into emerging Web3 tren
