- EOS/USD is a noteworthy outperformer on Tuesday up 2.6%, however running int resistance at the session high of $14.48.
- A wedge can be seen with current sideway trading for EOS, a break to the upside appears to be pending, after a small pullback.
The EOS price was one of the standout outperformers during the session on Thursday, but lost some ground heading into the $14.50 area. A sideways wedge has been seen with recent price behaviour for EOS/USD, the upper trend line of this pattern is where EOS lost some ground in the session.
EOS/USD broke out of a descending channel to the upside, earlier in the week on 5th June. Since this move by the market bulls, sideways trading has been observed for the time being, pending the next potential extended move north.
Technically, given the recent developments of price behaviours, it would suggest another move is immeninent. The first challenge in the way for the bulls is seen at $14.50, should this be cleared, looking historically, there doesn’t appear to be too much in way of $16 as the next target. Support in the near-term is seen at $13.65, the lower part of the channel.
EOS/USD 60-minute chart
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