EOS Technical Analysis: EOS/USD in a stubborn downward trend, $5.50-4.50 demand zone is under threat, which could see $3 in no time

• EOS a big under performer on Wednesday, down over 14% in the session.
• EOS/USD has a vital near-term demand zone, $5.50-4.50 forced to be tested by the bears.

EOS/USD daily chart

Spot rate:                    5.6356

Relative change:        -14.25%

High:                          6.5663

Low:                           5.3180

Trend:                         Bearish
 

Support 1:                  5.5000 – 4.5000, entrance to demand zone.  

Support 2:                  3.8341, 18th March low.

Support 3:                    3.0713, 22nd December 2017 low.    

Resistance 1:             7.1000, above descending trend line.

Resistance 2:             7.9749, 50DMA.

Resistance 3:             8.9193, (resistance on daily chart).