- EOS/USD trading down on 2.5% on Thursday, but further selling may be pending.
- A bearish pennant pattern can been seen shaping up on the 60-minute chart.
The EOS price was seen down around 2.5% in the latter stages of trading on Thursday, after what has continued to be a soft trading week seen across the board. There is still yet to be a firm commitment in trend for now, following the chunky drop observed last week.
EOS/USD is heading for another week trading in negative territory, this would mark the fifth consecutive one, unless some drastic bull move comes into play, but current indicators suggest that is unlikely anytime soon.
Technically, a bearish pennant formation can be seen on the 60-minute time frame, which has gradually taken shape since 23rd June. Support in the near-term is seen around $7.59, this is the lower trend line that forms the mentioned pennant. A break from the bears will likely see a drop down to test 24th June low at $6.91.
EOS/USD 60-minute chart
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