EOS Price Analysis: EOS Token Breaks Through The Crucial Mark of $4.00

  • The EOS token price trend is in a downward direction during the intraday
  • EOS/BTC pair is trading negative by 2.7% at 0.0001150 BTC
  • The 24-hour trading volume in EOS is $981 Million
Source: EOS/USD on TradingView

The daily technical chart of EOS token represents the price losing strength and struggling to sustain above $3.22 support. According to Pivot points (FIB), EOS’s crucial support level is $3.22. Conversely, if it moves up, the necessary resistance level to observe is at $4.65. Thus, while the intraday chart forms a Bearish hammer candlestick pattern, predicting prices may soon reverse to the Downside with average dependability.

The exponential moving average (EMA) included 50,100,200-EMA can be a reliable support for currency price changes. However, investors can observe that the price moves below the orange line, ensuring a downward trend until the price stays below the EMA-200.

Volume of (129.837K) is beneath the MA of 20-days (804.762K). selling pressure is low in EOS, making its price remain in a negative zone. Investors may also observe diminishing volume bars in the chart, which indicates a big move is expected in upcoming trading sessions.

The Schaff Trend Cycle indicator (bullish) with a 100 represents a buy signal in the coin, projecting an uptrend. Additionally, Investors can see a green buy signal and an upward curve in the index.

EOS Token Eyes For 10% Downside

The EOS token price is $3.60, a loss of 2.7% in 24-hours, and negative by 11.5% in a week. In addition, due to selling volume, price movement is expecting a downside. However, the STC indicator shows bullish signs. Therefore price levels are underneath multiple EMA’s. Technically, the price loses strength and trades below the $4.0 mark. Therefore, as with general market sentiment, the trend remains bearish.

Resistance: $4.65 

Support: $3.22

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