- EOS price was seen nursing just shy of 2% in the latter stages of trading on Friday.
- EOS/USD price is moving within a bearish pennant pattern, price range narrowing, breakout pending.
The EOS price is seen to be underperforming on Friday, down over 1.5%, with a cooling in pricing seen across the board. It has been somewhat of a choppy week, as the bears continue to sell any short-term rallied seen.
EOS/USD has formed a bearish pennant, as seen via the 4-hour chart view, with price action narrowing within, making it vulnerable to a breakout south, should it play out to the textbook. EOS has lost around 15% during the trading week.
Technically, as mentioned the price action has formed a bearish pennant pattern, this started taking shift from 14th August. The price is currently testing near-term support seen at $4.76, the lower part of the pennant. Resistance to the upside is seen just at $4.92.
EOS/USD 4-hour chart
Share
