EOS/USD Technical Analysis: Bulls to test resistance at $2.42

EOS/USD shows several bullish signals which indicate that the market is on the up
Having breached resistance at $2.38, the buyers have the $2.42 resistance next in their sights.

Rajarshi Mitra Independent Analyst

EOS/USD daily chart

The last nine sessions in the daily chart are comfortably above the lower curve of the 20-day Bollinger band.
The Friday, February 8th session is bullish and is looking to break above the 20-day simple moving average (SMA 20) curve.

EOS/USD 4-hour chart

The EOS/USD 4-hour chart forms a triangle which is prepping for a bullish breakthrough.
The bulls have broken past the $2.38 resistance and have the $2.42 resistance next in sight.

EOS/USD hourly chart

The EOS/USD hourly chart forms a bullish flag and the latest session also shows that another bullish flag formation is on the way.

Key Levels

Resistance 3: $2.45068
Resistance 2: $2.42769
Resistance 1: $2.39815
Pivot Point: $2.37515
Support 1: $2.34561
Support 2: $2.32262
Support 3: $2.29307

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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