Cryptoknowmics
2022-09-06 06:42:18

EOS Technical Analysis: Buyers Crowd At $1.58 Hoping To Reach $1.75

EOS prices take a bullish reversal from the support trendline to challenge the sellers at $1.58. But will this power struggle result in a bullish breakout? EOS technical analysis displays the buyers regaining trend control after the bullish reversal from the confluence of the 50-day EMA and the support trendline. Currently, the reversal rally challenges apply pressure at the $1.58 mark delaying an uptrend to the $1.75 resistance level. Will buyers sabotage the increased selling activities at the $1.58 mark? Key Points: The coin price trend shows higher price rejection from the $1.58 mark. The bullish rally can reach the $1.75 mark if it breaks above $1.58. The intraday trading volume in EOS is $372 million. Source – TradingView EOS Technical Analysis The EOS price shows a bullish reversal from the 50-day EMI and the support trendline with a morning star pattern on 1st September. However, the uptrend struggles to exceed the selling pressure at the $1.58 mark, but the lower price rejection in the recent bullish candle of a 5% jump keeps the bullish hope alive. Currently, the technical analysis displays a bearish influence over the daily candle resulting in a 1.59% decline in the market value. Nonetheless, as the prices sustain about the $1.50 mark, the possibility of a bullish breakout will increase. Moreover, the bullish crossover possibility of the 50 and 100-day EMA increases, which may drive the market value to the 200-day E...

Get Crypto Newsletter
Read the Disclaimer : All content provided herein our website, hyperlinked sites, associated applications, forums, blogs, social media accounts and other platforms (“Site”) is for your general information only, procured from third party sources. We make no warranties of any kind in relation to our content, including but not limited to accuracy and updatedness. No part of the content that we provide constitutes financial advice, legal advice or any other form of advice meant for your specific reliance for any purpose. Any use or reliance on our content is solely at your own risk and discretion. You should conduct your own research, review, analyse and verify our content before relying on them. Trading is a highly risky activity that can lead to major losses, please therefore consult your financial advisor before making any decision. No content on our Site is meant to be a solicitation or offer.