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...
