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EOS Technical Analysis: EOS/USD still facing resistance at $2.61 despite huge 8% increase in price

  • EOS/USD is up 8% in the last 24 hours from a low of $2.4 to $2.61.
  • EOS bulls managed to establish a daily uptrend.
EOS Technical Analysis: EOS/USD still facing resistance at $2.61 despite huge 8% increase in price
Lorenzo StroeLorenzo StroeIndependent Analyst

After holding two higher lows in a row at $2.3 and $2.32 respectively, EOS has now confirmed a daily uptrend. Buyers have pushed the digital asset above the 12-EMA and the 26-EMA which crossed bearishly on June 14. 

EOS/USD daily chart

EOSUSD

After the massive surge, bulls are now fighting for the $2.614 high established on June 22. The peak of the breakout is $2.611, extremely close to the high, but the bulls haven’t managed to crack the resistance level yet. EOS could easily consolidate for a few days and wait for the EMAs to catch up before attempting a breakout above $2.614. 

EOS/USD 4-hour chart

eosusd

The bullish breakout is clearly healthy as it happened over the course of many hours. Support can be found at $2.5 psychological level and $2.48 where the current 12-EMA is located.

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.

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