EOS Price Analysis – February 1
The EOS price is currently trading at the $3 level on the daily chart as the coin is trading between the $2.3 and $3.6 levels.
Resistance levels: $3.5, $3.7, $3.9
Support levels: $2.5, $2.3, $2.1
Looking at the daily chart, we can easily see that EOS/USD is changing trend slowly on the long-term outlook. The cryptocurrency is range-bound within the resistance level of $2.3 and the $3.6 price level for some time now. The bulls are pushing the market above the 9-day and 21-day moving averages, and currently consolidating at the $3.0 level.
What to Expect from EOS
Looking at the daily chart, the trading volume is rising, and should the bulls push the price upward; the price could reach the resistance levels at $3.5, $3.7, and $3.9. In other words, if the price crosses below the 9-day and 21-day moving averages, the price could hit the supports at $2.5, $2.3, and $2.1 respectively. The RSI (14) moves to cross above 60-level, which may give more bullish signals in the market soon.
EOS/BTC Market: Remains at the Downside
When compared with Bitcoin, the EOS price is seen moving above the 9-day and 21-day moving averages but with a bullish candle. The RSI (14) is moving above the 50-level which could still bring more bullish signals into the market. A possible rise above the upper boundary of the channel may surface and the resistance levels are located at 120 SAT and above.
However, any form of a reversal below the moving averages could drag the EOS price to the support level of 70 SAT and below. But the buyers may have to keep bullish movement to be able to push the price across the channel.