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Analysis: EOS price rises above $2.740

The EOS price line appeared bullish as it approached the charts for the 4th of June. While following the cryptocurrency king, EOS moved across the $2.740 level during the day. The EOSUSD pair traded within a day’s range of $2.664 — $2.749.

1-Day EOS price analysis (4th June)

EOS Price ChartEOS Price Chart by Trading View

The cryptocurrency traded above the $2.670 level at the start of the 3rd of June. Gradually, the EOSUSD pair made its way across the $2.700 mark just as it approached the charts for the 4th of June, after which the cryptocurrency turned bullish, and the price line moved past the $2.740 level. EOS approached a day’s high of $2.749 US Dollars in the first quarter of the day.

Right before noon on the 4th of June, EOS saw a brief retracement towards the $2.680 level, after which the price returned above the $2.720 mark. At the time of writing, EOS traded at $2.731 US Dollars.

EOS price movement on technical indicators

EOS Price Featured ChartEOS Price Chart by Trading View

For the 24hour trade, the moving average technical indicators for EOUSD saw an uptrend on the charts. The moving averages stayed below the $2.680 level until the 4th of June, after which they moved across the $2.700 level.

The 20-Day Exponential Moving Average (20EMA) and the 50-Day Moving Average (50MA) slipped below the $2.700 mark near noon, after which they returned above the $2.720 mark. The 20EMA closed at $2.731, while the 50MA saw the day’s closure at $2.730.

The Relative Strength Index (RSI) fell to a low of 13.73 at 09:19 GMT. This shows that EOS was oversold the time when the trading pair exhibited a brief pullback. For the rest of the day’s trade, the technical indicator was observed between its normal range of 30.00 — 70.00. At the time of writing, the RSI was observed at 61.54.

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