Will EOS Break the Consolidation Phase?

EOS price prediction showcases the long term consolidation phase of the cryptocurrency over the daily time frame chart. Now, buyers need to accumulate at a higher rate in order to push EOS crypto upwards. However, volume change is below average and needs to grow intraday so that EOS recovers towards the upper threshold of the horizontal range-bound area.

EOS crypto has been consolidating inside a horizontal range-bound area since Thursday. The price of EOS crypto is inside the horizontal price range of $0.5509 and $0.5929. Meanwhile, buyers must push EOS upwards to initiate its recovery over the daily time frame chart.

EOS price was at $0.5683 and gained 1.16% of its market capitalization intraday. However, trading volume is down by 17.85% during the intraday trading session which demonstrates that sellers are present in the trade to pull EOS downwards. Volume to market cap ratio was at 7.59%.

Will EOS Price Break Out of the Range?

EOS price prediction showcases the struggle of EOS crypto inside the horizontal range-bound area. It looks like buyers are trying to push EOS upwards, but the volume change shows the different story. Volume change is below average and needs to grow intraday. Meanwhile, EOS crypto is trading below 20, 50, 100 and 200-days daily moving averages.

EOS crypto declined by 2.27% in a week and 3.98% in a month. Moreover, EOS lost around 14.43% in the last three months and 52.16% in the last six months. In addition, EOS cryptocurrency slipped by 33.88% year to date.

Technical indicators highlight the uptrend in EOS crypto price. Relative strength index (RSI) showcases the upside trend of EOS. Moving average convergence divergence (MACD) also confirms the upwards velocity of EOS.

RSI was at 44 and is heading towards neutrality. The MACD line is above the signal line, highlighting the sustainability of EOS. Investors in EOS cryptocurrency need to wait until the EOS price reaches the upper threshold.

Summary

EOS price prediction showcases the long term consolidation phase of the cryptocurrency over the daily time frame chart. The price of EOS crypto has been stable, inside the horizontal price range of $0.5509 and $0.5929. It looks like buyers are trying to push EOS upwards, but volume change shows the different story. In addition, EOS cryptocurrency slipped by 33.88% year to date. Technical indicators highlight the upside trend of EOS crypto price. Investors in EOS cryptocurrency need to wait until the EOS price reaches the upper threshold.

Technical Levels

Support Levels: $0.5579 and $0.5509
Resistance Levels: $0.5833 and $0.5929

Disclaimer

The views and opinions stated by the author, or any people named in this article, are for informational purposes only, and they do not establish financial, investment, or other advice. Investing in or trading crypto or stock 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