Ken Chigbo
Independent Analyst
- EOS price seen trading in minor positive territory, after a solid week of gains.
- EOS/USD in consolidation mode, ahead of a potential breakout higher, with upside target potential of $7 in the near-term.
- If the bulls manage to hold above $6, there doesn't appear to be too much firm resistance in-between $6-7
EOS/USD 4-hour chart
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Spot rate: 5.8072
Relative change: +0.15%
High: 6.0359
Low: 5.6400
Trend: Bullish.
Resistance 1: 5.8000-6.0000, chunky demand area acting at the back-end August.
Resistance 2: 6.3300, supply zone.
Resistance 3: 6.6000, resistance on 4-hour chart.
Support 1: 5.6400, support on 4-hour chart.
Support 2: 5.5188, top area 14-18 September.
Support 3: 5.2500, in proximity to 50 & 100MAs (4-hour).
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