- EOS joins the other cryptocurrencies in the market in a brief surge as the bulls enjoy a breather.
- EOS is trading above $5.00 but a support at this level is vital for further upward movement.
The crypto market is busking in bullish rays on Tuesday in the wake of the decline that dominated the market yesterday. EOS is up 4% on the day after surging above $5.00. This month has seen EOS test $7.0 but the bulls lacked momentum to break the resistance forming highs around $6.8. Still, in the same month, the crypto descended to lows slightly above $4.60 but the declines did not extend to the August lows at $4.10.
EOS is a $4.6 billion token that currently has a trading volume of $810 million. The market capitalization has reduced from yesterday’s $4.9 billion. In the same period, the trading volume has gone up from $696 million, which explains the recent selloff.
At the time of press, EOS is trading at $5.05 and is testing $5.1. The technical signals are positive and EOS is likely to test the supply zone at $5.31. The RSI is ranging 56.60 percent while the MACD is advancing upwards to show that the buyers have the control. It is essential that the bulls find a support above $5.00. However, $4.60 will come in handy in the event a trend reversal occurs.
EOS/USD 60’ chart
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