EOS price analysis: EOS/USD rejected at $15 mark, however it could be coming back with big vengeance
- EOS price once again rejected by the resistance within $15 region.
- Momentum is still well behind the bulls, as the price forms another bullish pennant pattern.
The EOS price is seen trading down ever so marginally in the latter stages of trading on Wednesday, down 0.10%. Across the crypto market with many of the major altcoins, some large losses were seen across the session, double digits in terms of percentages.
EOS/USD has really outperformed throughout the month of April, in comparison to many of its peers. The price has gained over 185% just for April alone, some incredible bull run that has been, from $5.77 to $15.
Technically, the immediate obstacle for EOS/USD is seen within the $15 region, as proven for the last couple of sessions. Price action is yet again forming another bullish pennant pattern, pending breakout. Given current bull momentum, it wouldn’t be surprising to see $15 resistance cleared and then for the record highs at $18.68 printed in January to be tested.
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.
