EOS Sustains Recent Rallies, Why It Could Reach $8

- Advertisement -spot_imgspot_img

EOS Key Highlights AS It Could Reach $8

  • EOS targets above $7.6 as it could reach $8
  • EOS faces rejection at the $5.25 high, uptrend likely

EOS Current Statistics

The current price: $5.27
Market Capitalization:$5,436,134,338
Trading Volume: $1,623,326,539
Major supply zones: $5.4, $5.6, $5.8
Major demand zones: $3.6, $3.4, $3.2

EOS Price Long-Term Prediction: Bullish

On August 16, EOS/USD rallied to a high of $6 as it could reach $8. Sellers were attracted at the recent high as the bullish move was repelled. The altcoin has retraced to the low of $4.8 and resumed consolidation above the current support. After two days of consolidation, the crypto rebounded above the current support to reach the high of $5.25. Presently, the upward move has been stalled as price consolidates below the recent high. On the upside, if buyers overcome the resistance at $5.25 and $6, the crypto is likely to rally to $7.62. Presently, the upward correction is facing rejection at level $5.3. If price falls and breaks below $4.8 support, EOS will decline to $4 low.

EOS Sustains Recent Rallies, Why It Could Reach $8
EOS/USD – Daily Chart

EOS Indicator Analysis

EOS is at level 61 of the Relative Strength Index period 14. The crypto is in the bullish trend zone and has room to rally on the upside. EOS has a bullish crossover as the 21-day SMA crosses over the 50-day SMA. This indicates a buy signal. The altcoin is below the 80% range of the daily stochastic. It implies that the market is in a bearish momentum.

What Is the Next Move for EOS As It Could Reach $8?

EOS is in a bullish momentum as the altcoin resumes an upward move. Meanwhile, on the August 16 uptrend, a retraced candle body tested the 61.8% Fibonacci retracement level. The retracement indicates that EOS will rise to level 1.618 Fibonacci extension or level $7.62.

EOS/ USD – Daily Chart

Also Read : What Are the Benefits of EOS Trading?

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.

Latest news
Related news
- Advertisement -spot_img