EOS price analysis: EOS/USD locked in a triangle pattern despite Ledger support

  • EOS gained 1.4% on a daily basis, moving within a narrowing range.
  • Ledger wallet now supports EOS and Waves and six more coins.

EOS, the 5th largest coin with the market cap $5.9B and average daily trading volume $735M is changing hands at $6.50 after an attempt to move above $6.82 on Saturday. EOS price has gained over 1.4% in recent 24 hours and 9.5% over seven days. Spike in trading volumes during early Asian hours failed to yield in a sustainable movement in either direction.

Meanwhile, the hardware cryptocurrency wallet Ledger added support for eight new coins including EOS and Waves. The developers stick to the plan to add new coins each first Tuesday of the month.  

That's what their official announcement says:

"Happy #CryptoTuesday! Ledger now supports Hycon, Waves, Rise, FIC Network, Pirl, EOS, and Akroma. These 3rd-party apps for Ledger Nano S are available on Ledger Live."

IOTA, Cardano, Decred, and Lisk are coming up next.

EOS technical picture

On the intraday level, EOS/USD is locked in a triangle pattern with the upper border currently at $6.63 and the lower line at $6.4. A sustainable breakthrough in either direction will result in a steady movement with the first bullish aim at $6.8 (September 1 high). On the downside, the support comes at $6.25 (SMA200, 1-hour) and followed by psychologically and technically important $6.00.

EOS/USD, 1-hour chart


Get 24/7 Crypto updates in our social media channels: Give us a follow at @FXSCrypto and our FXStreet Crypto Trading Telegram channel


Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility.