EOS price analysis: EOS/USD up 6% on Wednesday, 100 DMA resistance at $9.70

  • EOS seen up as much as 6% on Wednesday
  • EOS/USD price moving within ascending channel
  • Resistance observed at $9.70, 100 DMA

 

The EOS price has gradually been moving back in the momentum of the bulls, holding gains of around 6% during trading Wednesday. Since the lows last week, EOS is up around 60%, from around $5.88, moving in line with the general market recovery.

Of late, there hasn’t been much of updates from the development camp at EOS, however its technology has been praised greatly and compared to that of Ethereum. EOS, core benefits are built around its scalability and decentralization.

Technically, EOS/USD is currently moving within an ascending channel, with momentum still supported and pointing to some further upside. There is resistance seen around the 100 DMA at $9.70. Support for the price around the bottom trend line, $9.00. 

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