EOS/USD technical analysis: EOS could find support here
- EOS is trading -1.59% lower today as cryptocurrency sentiment is mixed.
- On the four hour chart there is a bullish signal that could indicate a move higher.
On the four-hour EOS/USD chart there is an indication that we may have come to a support zone.
3.794 has been used as support and resistance (marked by the squares on the chart) on six occasions now.
This time after the price dipped below 4.000 again we need to see if the support holds.
On the RSI indicator, there is a bullish failure swing signal that might point to a move higher.
After the psychological 4.000 resistance, the next level up is 4.230.
Volume at the moment is very average but most of the volume spikes have supported the bid.
Lastly, on the volume profile indicator there is a low volume node (LVN) which can be a good sign that the support will hold.
Author
Rajan Dhall, MSTA
FX Daily
Rajan Dhall is an experienced market analyst, who has been trading professionally since 2007 managing various funds producing exceptional returns.
