EOS is working hard to break out

EOS price is trading very close to support since April.

Although the upside is very high, a breakdown from this support area can cause a drop in strength due to lack of support below it.

EOS distance and support

EOS turned down in value when it reached its local level of $ 3.95 on August 16. It moved in line with the gradual resistance line through the downward movement.

Currently, the price of the trade is very close to $ 2.45 of the zone support, above which it was traded during April.

On October 7, the price as though started to break down, strongly moved above the descending resistance line to reach a high of $ 2.9, which represents a 20% gain from the intraday opening price. However, the higher price could not be sustained and the daily bar was completed with a long upper shadow.

EOS symbols / USD Daily | Source: TradingView

The indicator techniques within the daily time frame are bullish. The Stochastic RSI has created a bullish and rising streak. The MACD also started to go up after forming a bull run but has not yet entered the positive territory.

The indicator RSI, however, remains below 50 and is not making any gains in price.

EOS symbols / USD Daily | Source: TradingView

Margin trading

6 hour chart for moving positions in the $ 2.60- $ 2.90 range.

The top $ 2.60 zone acted as support, before a breakdown set the price at $ 2.40. Up to the next move is used to verify the $ 2.60 is the resistance and create a double bottom near $ 2.40.

During the aforementioned October 6 rally, the price retraced the $ 2.60 zone and moved up to identify the $ 2.90 zone as resistance once again. At the point of writing, EOS is back in the $ 2.60 zone, possibly to confirm it’s supported once again.

If the price continues to trade above $ 2.60, then it’s very likely that the bulls will make another attempt to climb above the $ 2.90 range. This is also give up the regression on the range of remake in the before section.

EOS / USD frame icon 6 time | Source: TradingView

The breakout down under the area support or drop up on the acircration distance will tend to determine in the future.

A breakdown can bring the nearest support price at $ 2.10, while a breakdown can bring the price to $ 2.90 – $ 3.50 again.

EOS symbols / USD Daily | Source: TradingView

EOS / BTC

Trader CryptoDonAlt has compiled a symbolic EOS / BTC showing a sinking impression, according to what he believes could be the start of a new trend.

Source: Twitter

Similar to the EOS / USD pair, EOS / BTC rallied sharply throughout October 7. However, resistance was at 25,600 satoshi and produced a long wick before falling again.

The volatile price of EOS / BTC seems to be decreasing relative to its USD pair. Although this state pump helps the EOS / USD pair to recover a small zone of support, it only serves to confirm the resistance zone of the EOS / BTC pair.

Moreover, the missing support under the current level may be can be the price down down 21,000 satoshi – not per zin from year 2017.

EOS / BTC Daily Chart | Source: TradingView

Disclaimer: This article is for target information only, not investment. We are not responsible for your advice.

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