EOS/USD: Bulls desperately trying to cling on to crucial $2.30 support line

  • The Bulls fought back this Tuesday to bring EOS/USD’s value above $2.30.
  • Technical indicators show that EOS/USD is going to go through a period of low volatility.

The bulls have fought back this Tuesday to bring EOS/USD’s value above $2.30 via market speculation. EOS/USD  finally managed to get a bullish candlestick after getting beaten by the bears for the last two days. In the short term, it is critical for the buyers to make sure that the price doesn’t go below this support line.

EOS/USD daily chart

The critical support line lies at $2.30. In the short term, the bulls need to defend this support line and, at the same time, try to break past the resistance provided by the downward trending line. The narrowing of the 20-day Bollinger band and the moving average convergence/divergence (MACD) indicates that a period of low volatility is imminent.

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