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EOS Rallies Stall at $5.09 as It Consolidates Above $4.6

Granit.M
EOS Rallies Stall at $5.09 as It Consolidates Above $4.6

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
Market Capitalization:$4,887,036,545
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 Rallies Stall at $5.09 as It Consolidates Above $4.6
EOS/USD – Daily Chart

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.

EOS/ USD – 4 Hour Chart


Also Read: EOS Surges to $4.58 High as More Upsides Likely

Note: Crypto-academy.org is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results.

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