EOS price analysis: Laggard amid the gainers, lower highs lower lows take it down
- Only loser of the day, all others gain.
- Trapped in the lower low, lower high channel.
EOS is the only loser among the major cryptocurrencies of the world, after gaining the most through out this week, as technicals point to overbought situation and exhaustion is visible.
EOS/USD is down 0.4 percent at $8.78, after gaining almost half of its price of last week. The price now seems to have got itself trapped in the lower high, lower low downward sloping channel on the 15-minute chart and any upside needs to break past the upper end of the channel to gain the momentum.
On the daily chart, visibility of overbught RSI points to exhaustion that the bulls have had enough run and need some rest before taking charge again as the MACD has only entered positive zone and would lend their support to the bulls.
EOS/USD 15-minute chart:
Author
Manoj B Rawal
Independent Analyst
Manoj B Rawal, financial markets professional with about 11 years of experience in writing, editing and advising on stocks, currencies and fixed income.
