EOS price analysis: Trapped in a triangle; some time before a breakout

EOS stuck in a triangle on the medium term chart.
Retraces from upper end.

Manoj B Rawal Independent Analyst

EOS is stuck in a triangle that is slopinhg on the downside and the price has started retracing from upper end of the triangle on the medium term chart, although it is still some time before the breakout of this traingle occurs.

EOS/USD is up nearly 3 percent at $5.07 just around high point of the day. On the 480-minute chart, this crypto has got itself stuck in a downward sloping channel and the price is retracing from the upper end of the triangle.

Next move is on the downside where the lower end of the triangle will come at the rescue and then comes probably a breakout point - most likely on the upside.

EOS/USD 480-minute chart:

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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.

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