EOS Price Analysis: Next up for EOS/USD is the 2.90 resistance level
- EOS/USD trades 4.5% higher as most of the crypto majors are in the red.
- There are a few key resistance zones in close proximity.
EOS/USD 4-hour chart
EOS is in bull market territory and a break of the 2.90 resistance zone will confirm the trend. The market has been making higher highs and higher lows since May and the trend looks set to continue.
If the aforementioned level breaks then the psychological 3.00 level and 3.12 high on the chart could be next. The signs are good as the price is trading above both the 55 and 200 moving averages and this is traditionally a bullish sign.
Looking closer at the technical indicators, the Relative Strength Index looks to be heading to the overbought area but still has some space to move to the upside. The MACD is also looking good as the histogram just moved over the mid-line into the green. The signal lines are also over the zero level which is also a bullish sign.
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Additional levels
Author
Rajan Dhall, MSTA
FX Daily
Rajan Dhall is an experienced market analyst, who has been trading professionally since 2007 managing various funds producing exceptional returns.
