EOS price analysis: The only crypto to touch the sky again; overbought conditions can't deter bulls
- Makes new all time high surpassing January's.
- Overbought momentum indicators still visible, bulls defiant.
EOS has become the only cryptcurrency that has touched and surpassed its January highs again, clearly signalling that its in all new bull-run and only sky is the limit for the prices now, even as RSI, MACD, bollinger bands suggest its overbought.
EOS/USD is up more than 13 percent at $21.25, near the highs of the day which is at $21.4499. RSI of 89, MACD crossover at highs and stretching bollinger bands on the upper side, all indicate reversal to the mean could happen anytime and bulls will have to cool off before they get trapped at higher levels.
Given the momentum, there's no limit up to how much EOS can rise for now and any claw back from these levels would only be buying opportunity for the investors and new all time highs on a regular basis can't be ruled out.
EOS/USD daily 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.
