EOS Price Analysis: EOS Trades at 20-EMA, Investors Expects 25% Rally Ahead

EOS coin is under recovery as buyers push the price higher after the pullback.
The market cap of EOS coin has increased by 12% to $1.53 billion in the last 24 hours.
EOS crypto trades above 20,50 and 100 daily exponential moving averages on the daily price scale.

EOS coin has found its bullish path along with the upward trendline. The rise was driven by a high-low formation in the context of the 4-hour price scale. At the time of writing, EOS coin is trading at the $1.54 mark against USDT.

On August 22, buyers successfully entered a 100-day top at the $1.94 mark, which later witnessed a retracement phase that pulled the price towards an ascending trendline (blue). However, buyers managed the asset price well on the support trendline, which could help the buyers hit the $2.0-resistance before any major downside.

In hourly price scale, bulls have a key hedge zone at $1.1 mark besides the 30-high turned into an immediate bullish hurdle. Trading volume decreased last week, suggesting a drop in volatility. Despite the fact that buyers became aggressive last night, as a result, trading volume hiked by 89%.

Meanwhile, the market cap is up 12% at $1.53 Billion in the last 24-hours as per the CMC. EOS is in the green zone by 8.2% this week in fact buyers are managing to close the weekly candlestick above 20-DMA. Moreover, EOS coins belonging to the Bitcoin pair favor buyers at 0.00007666 Satoshis, up 12.1%.

200-EMA Observed as a Next Resistance

On the daily price chart, EOS crypto trades above 20,50 and 100 daily exponential moving averages, where 100-DMA became a great support. Besides, the 200-EMA (white) stood to be resistant. In addition, the RSI indicator again turned back to the upside at semi-line, suggesting positivity for the altcoin.

Conclusion

The EOS outlook shows that bulls are attempting to close daily price above the 20-day exponential moving average, then 200-EMA will only remain to breach. Also, the RSI indicator suggests positivity for altcoin.

Support level – $1.3 and $1.0

Resistance level – $2.0 and $3.2

Disclaimer

The views and opinions stated by the author, or any people named in this article, are for informational ideas only, and they do not establish the financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.

Andrew is a blockchain developer who developed his interest in cryptocurrencies while his post-graduation. He is a keen observer of details and shares his passion for writing along with being a developer. His backend knowledge about blockchain helps him give a unique perspective to his writing