EOS Technical Analysis: EOS/USD early breakout is now under consolidation
- EOS had a breakout before Bitcoin, following Ethereum’s initial rally.
- EOS is currently under consolidation after touching $3.95.
EOS had a massive breakout on August 15 going from $3.26 to $3.85 and getting continuation the next day towards $4. EOS has been under consolidation for the past two days even though Bitcoin just had its initial breakout above $12,000.
EOS/USD daily chart
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Obviously, the MACD is heavily bullish, just like the 12-EMA and the 26-EMA. EOS is now seeing a pullback towards $3.60, but the price still has a lot of room until the first EMA. EOS is still, however, far away from its 2020-high at $5.48.
The immediate resistance level was already hit at $3.88. The next one was established on February 23 at $4.41. Of course, the psychological level at $5 will also be a resistance point towards the 2020-high.
Author
Lorenzo Stroe
Independent Analyst
Lorenzo is an experienced Technical Analyst and Content Writer who has been working in the cryptocurrency industry since 2012. He also has a passion for trading.
