- EOS gained 2% on a daily basis recovering from Thursday’s lows.
- EOS is well-positioned for further upside as long as it stays above $6.00.
EOS, the 5th largest coin with the market cap $5.4B and average daily trading volume $746M is changing hands at $6.13 after dipping to $5.82 on Thursday. EOS price has gained over 2% in recent 24 hours and 1% since the beginning of Friday amid declining volumes and volatility. EOS/USD is still among the growth leaders, despite a recent decline with 25% gains over 7 days.
The coin is most actively traded at Bitfinex with over 95% of all trading volumes going through this trading platform.
EOS technical picture
EOS/USD, stay above $6.0 handle, which brightens the short-term picture and creates favorable conditions for further recovery with the first target at $6.5 (Wednesday’s high), strengthened by DMA50. If the bulls take the price higher, the upside momentum will gain traction with the next target at $6.90 – $7.00 area.
On the downside, EOS/USD is supported by $6.0 with SMA50 (1-hour chart) at $6.04. If it is broken, SMA100 at $5.72 and SMA200 at $5.31 will come into view. This area is likely to limit the downside on the short-term timeframe.
EOS/USD, 1-hour chart
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