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EOS Technical Analysis: EOS/USD could drop another $1 at least before any correction.

  • EOS trading down on Thursday 3% in the latter part of the session.
  • EOS/USD trading within a bearish pennant, this can be witnessed across a number of its peers also, seemingly being the technical structure theme today – Thursday. 
  • Given the above, there is room for another hard fall, if going by the length of the pennant pole, which is around $1.
  • Another potential $1 fall could see EOS/USD down at $2.70-60.

 

EOS/USD 60-minute chart 

Spot rate:                  3.7368

Relative change:      -3.01%

High:                         3.9084

Low:                          3.6834

Trend:                        Bearish

Support 1:                 3.7130 , lower part of pennant.

Support 2:                  3.4703, 20th November low.

Support 3:                  2.9930, weekly support

Resistance 1:             3.8607, upper part of pennant.

Resistance 2:             3.9272, 60-minute resistance.

Resistance 3:             4.2669, 20th November high.

Source: fxstreet

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