- EOS/USD is the best performing coins out of top-20.
- Bulls have a $5.00 handle in sight.
EOS/USD is a growth leader of the day. The coin gained over 11% since this time on Tuesday and touched $4.16 before retreating to $4.10 by the time of writing. The fifth largest digital asset with a market capitalization of $3.6B and an average daily trading volume of $1B has gained nearly 75% in recent three months, however, it is still 33% down on a year-on-year basis.
What’s going on
The upside momentum was driven by Dan Larimer, EOS CTO, comments, who promised exciting news announcements on July. While he refused to disclose any details, the community was exited.
Read more about Larimer’s teasing comments here
EOS technical picture
On the daily chart, EOS/USD jumped above DMA200 for the first time since February 24. This development may be regarded as a positive signal for the coin, supported by the upward-looking daily RSI.
The next bullish target comes at $4.53 (February high) followed by psychological $5.00. Once this barrier is out of the way, the recovery may be extended towards SMA50 (weekly chart) at $6.39. The last time EOS traded above weekly SMA50 in August 2018.
On the downside, the support is created by $4.00 and $3.80 (DMA200). A sustainable move lower will trigger the correction and push the price back towards the lower boundary of the recent channel strengthened by DMA50 ($3.50).
EOS/USD, 1D chart
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