- EOS gained over 9% on a daily basis amid global crypto recovery.
- The upside may be limited by $6.00 handle.
EOS, the 5th largest coin with the market cap $5.2B and average daily trading volume $634M is changing hands at $5.86 after spiking to $6.04 during late Tuesday hours. While the coin is moving in sync with other major digital coins, it remains one of the growth leaders since the beginning of the week.
EOS price has gained over 9% in recent 24 hours, but fundamental triggers for the ascent are not readily available. Most likely, the coin is driven by speculative interest, recovering from recent lows reached at $4.17 on August 14.
EOS technical picture
Looking technically, EOS/USD has gained over 30% from its recent low, though the upside may be limited by $6.00 handle that stopped the bulls on Tuesday. Once this area is cleared, $6.55 will come into focus. This resistance is created by DMA50 and considered to be strong enough to trigger a short-term correction. Former support line around $6.9 blocks the way to $7.00.
On the downside, EOS/USD is supported by $5.3 (Tuesday’s low). This barrier is followed by critical $5.00 (SMA200, 1-hour chart).
EOS/USD, the daily chart
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