EOS Price Analysis – October 9
As reveals by the daily chart, EOS moves around the resistance level of $4.95 after touching the daily low of $5.06.
Resistance levels: $5.5, $5.7, $5.9
Support levels: $4.2, $4.0, $3.8
EOS/USD is indicating an uptrend in the market, moving towards the upper boundary of the channel. In the past few days, we have seen EOS moving at a high speed in the market. However, recently, the market is projecting a volatile movement where EOS is spotted following a bullish movement moderately. Meanwhile, the market is anticipated to come out of the phase soon while EOS may anticipate returning to its original momentum.
EOS Price Analysis: EOS Price May Increase More
As the EOS price focus at the upward movement, a fall back-formation below the 9-day and 21-day moving averages could bring the price to the support levels of $4.2, $4.0, and $3.8 after breaking below minor support at $4.5. In other words, considering a continuous upward trend for this pair, EOS/USD could surge towards the resistance levels of $5.5, $5.7, and $5.9 on a long-term bullish. The technical indicator Relative Strength Index (14) is looking bullish at the moment as the signal line moves to cross above 60-level, suggesting more bullish signals.
EOS/BTC Market: Price Move towards the Upside
Against Bitcoin, the EOS price is currently trading above the 9-day and 21-day moving averages at 91 SAT. If the bulls fail to push the price to the north, EOS may likely see a sharp drop below the lower boundary of the channel. Breaking this barrier could further drag the market to other support level at 80 SAT and below.
However, as the technical indicator Relative Strength Index (14) moves around 45-level, the coin may likely continue the upward movement in as much as the indicator faces up. Meanwhile, more recoveries are still on the way and in no time traders could see EOS booking huge profits as the potential resistance level is located at 100 SAT and above.