TRENDING:
Oil price
XAU/USD
EUR/USD
GBP/USD
Silver
Sponsored by
|

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 Technical Analysis: EOS/USD early breakout is now under consolidation
Lorenzo StroeLorenzo StroeIndependent Analyst

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

EOSUSD

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

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.

More from Lorenzo Stroe
Share:

Editor's Picks

Pepe Price Forecast: PEPE signals trend reversal amid a short squeeze

Pepe Price Forecast: PEPE signals trend reversal amid a short squeeze

Pepe price is up nearly 30% in the last 24 hours, outperforming most top cryptocurrencies and hinting at further upside potential. Derivatives data suggest a short squeeze of more than $2 million during the same period, forcing traders to buy back positions in the meme coin. The technical outlook for PEPE indicates an upside bias as bullish momentum strengthens.

Crypto Overview: Bitcoin tops $85,000 post-CLARITY Act failure – TAO and FET lead gains

Crypto Overview: Bitcoin tops $85,000 post-CLARITY Act failure – TAO and FET lead gains

Bitcoin price trades above $85,000 maintaining a constructive tone amid positive institutional inflows, Strategy’s first BTC purchase since August, and alternative regulatory expansions following the CLARITY Act's failure. AI tokens such as Bittensor (TAO) and FET have emerged as top performers over the last 24 hours.

Ripple and Stellar outlook: Momentum improves as bulls target further gains

Ripple and Stellar outlook: Momentum improves as bulls target further gains

Ripple (XRP) and Stellar (XLM) stabilize after extending their gains by nearly 9% at the start of the week. Improving momentum indicators support XRP and XLM bullish price action and hint at further rally. Meanwhile, traders should remain cautious as mixed derivatives data could limit upside as both tokens try to sustain their recent upswing.

Ethereum Price Forecast: ETH rallies above $2,700 as investors shrug off bearish sentiment

Ethereum Price Forecast: ETH rallies above $2,700 as investors shrug off bearish sentiment

Ethereum climbed above $2,700 on Monday after investors defended the realized price level despite negative sentiment over the Clarity Act's failure and the Federal Reserve rate hike. After the Clarity Act failed to advance in the Senate, ETH dipped below $2,400 last week. But right below that price is the top altcoin's realized price, or average on-chain cost basis, at $2,310.

Bitcoin: BTC shrugs off CLARITY Act setback and hawkish Fed

Bitcoin: BTC shrugs off CLARITY Act setback and hawkish Fed

Bitcoin (BTC) price action has remained resilient this week, trading above $78,000 at the time of writing on Friday, heading toward a key resistance zone. Institutional demand shows early signs of weakness, with spot Exchange Traded Funds (ETFs) on track for a second straight week of outflows, with over $420 million recorded through Thursday amid escalating Middle East tensions.