ICOcreed logo ICOcreed logo
ICOcreed logo
Cryptoknowmics 2022-09-21 07:54:50

EOS Technical Analysis: Bulls Cushion Freefall At $1.20, Should You Buy?

The EOS technical analysis displays a bearish failure to break the $1.20 support level resulting in a retracement to $1.4, teasing a range formation. The EOS price action displays a bearish failure to break below the $1.20 support level leading to a 5% growth with two lower price rejection candles. Moreover, the ongoing recovery phase forecasts a prolonged consolidation in the coming days, between $1.40 and $1.20. But, will the EOS buyers hold their ground during these times of high volatility in the crypto market? Key Points: The EOS prices show a retest phase of $1.40. The bearish crossover possibility increases between the 50 and 100-day EMA. The intraday trading volume in EOS is $445 Million. Source-Tradingview EOS Technical Analysis The EOS price displays the support trendline fallout rally reversing from the $1.20 support level after a downfall of 20%. The lower price rejection candles at $1.20 lead to a morning star pattern and a 5% recovery in attempts to retest the $1.40 mark. With the breakdown of the 50 and 100-day EMA, the falling trend in EMAs teases a bearish crossover. Currently, the candle shows a higher price rejection reflecting a power struggle which may lead to a consolidation range between $1.40 and $1.20. Moreover, the intraday trading volume spike fails to bring any significant price movement, adding points to the sideways trend possibility. If the buying pressure persists, the consolidation can lead to ...

Disclaimer : All crypto price forecasts provided on our website are only for general information. The content should not considered as financial advice, legal advice or any other form of advice meant for your investment. Conduct your own research before investing in any cryptocurrency. Trading is a highly risky business, please consult with your financial advisor before making any decision.