EOS Technical  Analysis: EOS/USD in slingshot territory, has potential for fast move back towards $7 in the near-term

• EOS price seen trading in minor positive territory, after a solid week of gains.
• EOS/USD in consolidation mode, ahead of a potential breakout higher, with upside target potential of $7 in the near-term.
• If the bulls manage to hold above $6, there doesn’t appear to be too much firm resistance in-between $6-7

EOS/USD 4-hour chart  

Spot rate:                    5.8072

Relative change:        +0.15%

High:                           6.0359

Low:                            5.6400

Trend:                         Bullish.

Resistance 1:                5.8000-6.0000, chunky demand area acting at the back-end August.

Resistance 2:                6.3300, supply zone.

Resistance 3:                 6.6000, resistance on 4-hour chart.

Support 1:                   5.6400, support on 4-hour chart.

Support 2:                     5.5188, top area 14-18 September.

Support 3:                   5.2500, in proximity to 50 & 100MAs (4-hour).