• EOS/USD has recovered strongly on Monday.
  • The coin stopped on approach to critical $4.0. 

EOS gained over 4% of its value in recent 24 hours. Despite a rather slow movement during early Asian hours, the coin remains one of the best-performing altcoins out of top-20. At the time of writing, EOS/USD is changing hands at $3.89, off the recent high reached at $3.96. 

EOS/USD, the technical picture 

EOS/USD managed to settle above critical $3.80, however, the further upside movement is capped by psychological $4.00. Once it is out of the way, the bullish momentum may gain traction with the next focus on $4.57 (the highest level since the beginning of August) and $5.00 with a confluence of SMA100 (Simple Moving Average) and SMA200 daily located on approach. The next strong barrier awaits us on approach to psychological $6.00.  

On the downside, the initial support comes on approach to $3.75. It is created by SMA50 1-hour. This area may slow down the sell-off and trigger the recovery within the current range. However, if it is broken, the sell-off may be extended towards $3.50 strengthened by the middle line of 1-day Bollinger Band and SMA100 1-hour.

Note, that the Relative Strength Index (RSI) on intraday timeframes points downwards, which makes the short-term bearish scenario more likely.

EOS/USD, 1-hour chart 


 

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.

Cryptos feed

Latest Crypto News & Analysis

Editors’ Picks

Top 3 price prediction Bitcoin, Ripple, Ethereum: Cryptos seeing multiple launches into the universe

The BTC/USD pair is currently trading at the $10.187 price level, the same price level as in recent weeks. The most serious difficulty for Bitcoin is the low volatility, after many days in the same price range, strength and speed indicators are at minimum levels. It will not be easy to start again.

More Bitcoin News

Litecoin price analysis: LTC/USD bullish frenzy is unstoppable

Litecoin like other major altcoins has been performing relatively well since the beginning of the week. The bullish action continued on Wednesday with Litecoin rising to an intraday high of $76.2644. 

More Litecoin News

NEO price analysis: NEO/USD retreats from intraday high, upside momentum recedes

NEO is performing strongly on Wednesday. The 20th largest digital asset with the current market value of $69 million gained over 7% both on a day-on-day basis and moved nearly 3% higher since the beginning of the day.  At the time of writing, NEO/USD is changing hands at $9.80, off the intraday high of $9.87. 

More NEO News

TRON market update: TRX/USD tests DMA50 for the first time since July

TRON (TRX) is one of the best performing coins on Wednesday. TRX/USD has gained over 10% of its value to trade at $0.0178 by press time. While the coin has retreated from the intraday high ($0.0178), the upside momentum is still strong as TRX is moving in sync with the rest of the market. 

More Tron News

BEST CRYPTO BROKERS/EXCHANGES

Bitcoin Weekly Forecast: Rangebound trading and September blues come upon the crypto market

Bitcoin finishes the week with marginal losses. The first digital currency recovered from the recent low of $9,886 but stayed in the red zone as of the end of the week.

Read the weekly forecast

BTC

ETH

XRP