EOS/USD: Bulls continue upward momentum as market looks to break past $4

EOS/USD market continues to gather steam as $4 barrier looks breachable.
EOS/USD went up from $3.62 to $3.92 this Wednesday as the market looks to trend above the SMA 200 curve.

Rajarshi Mitra Independent Analyst

The EOS/USD market continued their upward momentum this Wednesday. EOS/USD’s price went up from $3.62 to $3.92, charting an 8.33% increase. If the momentum continues then the $4 barrier is going to get breached soon.

EOS/USD daily chart

The EOS/USD market looks to breach the resistance offered by the 200-day simple moving average (SMA 200) curve. The 20-day Bollinger band has been trending below the EOS/USD market for the last three days. The moving average convergence/divergence (MACD) graph shows that the momentum still lies on the bullish side. The relative strength index (RSI) graph has been trending in the overbought zone since Monday, February 18th, which may indicate a short-term sell-off period.

Author

Rajarshi Mitra

Independent Analyst

Rajarshi entered the blockchain space in 2016. He is a blockchain researcher who has worked for Blockgeeks and has done research work for several ICOs. He gets regularly invited to give talks on the blockchain technology and cryptocurrencies.

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