EOS Price Prediction: EOS/USD holding onto 2% gains on Monday, however another drop may just be round the corner
- EOS has recovered some 20%, after the drop from Friday to Sunday.
- A rising wedge pattern is seen on the 30-minute chart.
The EOS price managed to receive a decent amount of buying, after the heavy sell-off seen across the market from Friday to Sunday. During the session on Monday, EOS was seen holding decent gain of just above 2%.
EOS/USD dropped to its lowest levels over the weekend, seen since April earlier this year, after a large drop was seen for most of the cryptocurrencies, moving in tandem. EOS had initially dropped over 35% on Friday to Sunday. Since the fall, over the last two sessions, it has managed to recover some 20%.
Technically, EOS/USD looks potentially subject to a breakout to the downside from current levels, a rising wedge pattern is seen on the 30-minute chart. Near-term resistance seen at $8.55, with support seen at $8.00.
EOS/USD 60-minute chart
Author
Ken Chigbo
Independent Analyst
Ken has over 8 years exposure to the financial markets. He started his career as an analyst, covering a variety of asset classes; forex, fixed income, commodities and equities.
