EOS/USD to Surge to $5.5 Soon – Price Analysis

Briefly –

  • The four-hour chart shows Bollinger Bands expanding.
  • EOS has fluctuated from $4.8549 to $5.0717 over the past 24 hours.
  • MACD and RSI on the 4Hr and 1-day price chart show EOS price will increase in the upcoming sessions.

Price Overview and Analysis

EOS’s daily outlook shows healthy moves, suggesting a price surge. Buyers dominated in the early hours, sending the alternative coin towards its day’s peak. However, sellers joined the market to slow down the upside momentum. That way, EOS faced resistance around its intraday high at $5.3. This resistance proved significant, sending the coin down, creating multiple inverted triangle shapes towards the lows at $5.1.

Remember, bulls had formed weak support that allowed sellers to send the coin to $5.2. Bears created a massive resistance at this price level. The crypto saw increased sellers, pushing EOS to the intraday low of around $5.0. Meanwhile, the heat map indicates that the overall crypto market is bullish.

The flagship currency, Bitcoin, surged by 0.83% to trade near $47.9K. Also, Ethereum shows a bullish attitude, recording slight percentage gains to trade around $3.5K. On the other hand, the meme coin market is still in a bloodbath.

This week showed general bearishness for most alternative tokens and the crypto market. Though most alts move in a bearish attitude, some recorded substantial gains in the past 24 hours. MTL led Saturday’s gainers, surging nearly 60%. Nevertheless, EOS/USD has lost 0.8% since yesterday.

4-Hr Analysis – Bullish Sign

The 4-hour price chart suggests that Bollinger Bands are expanding, signaling increased volatility for EOS/USD. For now, sellers appear to control EOS price as the asset leans on the bottom band. Also, the chart shows MACD has crossed with the red line many times. For now, MACD points to the red line, indicating incoming bulls to reverse the bearish narrative.

On the 4-hr price chart, EOS started with bullish momentum before bears emerged to change the case. The market remains in moderate actions between 01:35 and 02:45, where buyers supported price surges before approaching the resistance level at $5.2.

Conclusion

The daily chart shows a magnified probability of upswings that can take EOS towards its target level at $5.5 before the day ends. Most technical indicators depict positive actions. However, if you want to place your bet with this token, make sure to conduct research.