EOS Technical Analysis: EOS/USD is on the rise

EOS/USD Daily Chart

• EOS/USD went up from $6.43 to 6.71 in the early hours of Thursday.
• The market has had a bullish breakout from a triangle formation.
• The SMA 20 curve converged with the SMA 50 curve but then instantly diverged away, which is a bullish sign.
• The relative strength index (RSI) indicator has crept into the overbought territory.

EOS/USD 4-Hour Chart

• The widening of the 20-day Bollinger band shows increasing market volatility.
• The MACD indicator shows continued bullish momentum.
• The latest session has crept outside the upper curve of the Bollinger band.
• Nearest resistance lies at $6.75.

EOS/USD Hourly Chart

• The hourly EOS/USD chart shows a head and shoulders pattern as indicated by the rectangles.
• The Ichimoku indicator shows the possibility of a near-term bearish correction.
• The Elliot Oscillator has had three consecutive bullish sessions.

Key Levels