EOS Key Highlights
- EOS fluctuates between $4.60 and $5.09 as it consolidates above $4.6
- EOS price pauses as buyers and sellers reach a period of indecision
- EOS reaches overbought region as sellers emerge
EOS Current Statistics As It Consolidates Above $4.6
The current price: $4.76
Trading Volume: $1,962,292,577
Major supply zones: $4.4, $4.6, $4.8
Major demand zones: $3.6, $3.4, $3.2
EOS Price Long-Term Prediction: Bullish
EOS has been in a smooth uptrend since July 20 as it consolidates above $4.6. For the past 48 hours, the uptrend is facing rejection on the upside. Yesterday, the bulls pushed the altcoin to the high of $5.1 but faced rejection. The recent high attracted sellers who pushed prices down. The bulls have earlier pushed the altcoin to the overbought region of the market. The uptrend is expected to resume depending on the extent of the retracement.
The uptrend will resume when prices retrace and find support above moving averages. Today, the retracement has found support above the 21-day SMA. If the current support holds, EOS/USD will commence the resumption of an upward move. On the upside, if the bulls break the resistance at $5.1, the crypto will rally above $5.5. Conversely, if the bears break below the moving average, EOS will further decline to the low of $4.4 or $4.2.
EOS Indicator Analysis
Despite the earlier retracement to the 21-day SMA support, the altcoin is at level 68 of the Relative Strength Index period 14. The crypto is still trading in the overbought region of the market. The coin is certainly likely to fall as sellers emerge. Similarly, it is below the 80% range of the daily stochastic. EOS is in a bearish momentum.
What Is the Next Move for EOS as It Consolidates Above $4.6
The altcoin upward move has been stalled at the high of $5.09 as it consolidates above $4.6. Yesterday, buyers pushed the EOS price to the recent high but were repelled. Today, the altcoin has fallen and it is in a sideways move between $4.6 and $5.10. A breakout or breakdown will determine the direction of the market.
Also Read: EOS Surges to $4.58 High as More Upsides Likely
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