EOS/USD Technical Analysis: Bears try to consolidate price following a heavily bullish Wednesday

EOS/USD daily chart

• EOS/USD is currently priced at $4.26.
• After the price trended in a narrow channel, the market broke out this Wednesday, as EOS/USD shot up from $3.78 to $4.30.
• The MACD indicator shows that momentum is currently with the bulls, so more upward growth is expected.  

EOS/USD 4-hour chart

• The 20-day Bollinger band in the 4-hour EOS/USD chart shows an increasingly volatile price.
• The last two bearish sessions crept the price back into the Bollinger band.
• The 50-day simple moving average (SMA 50) curve bounced off the SMA 200 curve. This shows that the EOS/USD overall sentiment is bullish.

EOS/USD hourly chart

• The hourly EOS/USD shot out of the red cloud of the Ichimoku indicator.
• The current green cloud shows that the market sentiment is bullish.
• The RSI has been trending inside the overbought territory since this Wednesday.