- EOS is fighting to come out of a sideways trading trend below $3.0.
- The tentative triangle breakout could easily point EOS in the direction of $8.0.
EOS was remarkably depressed over the weekend session. Advances in the direction of $3.0 were thwarted. Besides, EOS continues to upside is limited by a long term descending channel (started in June).
The cryptoasset is dancing at $2.73 following a 1% loss on the day. EOS is trading below the 100 SMA and the 50 SMA on the daily chart. The SMA maintains a uniform gap below the 100 SMA suggesting that selling activity could last longer.
The RSI is horizontal at 47.50 after correcting from levels slightly below 30. A movement towards 70 could result in EOS grinding into a triangle breakout, pulling the price towards the $8 supply zone. The same sideways trading is emphasized by the MACD in the daily range.
EOS/USD 1-hour chart-637114770412339838.png)
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