- EOS joins the rest of the cryptocurrencies in the slow pre-holiday trading.
- The sideways trading above $2.5 support is expected to take precedence in the coming sessions.
EOS is hovering slightly above $2.50 support after defending a critical support area. It is becoming apparent that this year cryptocurrencies will break the holiday surge streak. In December 2017, cryptocurrencies experienced their biggest bull rally. Consequently, last December, cryptos not only stopped the year-long downtrend, but also became the stepping stone for the rally that ended in June 2019.
Meanwhile, EOS is trading at $2.54 in the wake of a subtle 1.14% loss on the day. Capping the immediate upside is the trendline resistance. In addition, the price is trading under the moving averages. The 50 SMA holds ground at $2.59 while the 100 SMA in line to hinder movement at $2.62.
From a technical point of view, EOS is primed for sideways trading. For instance, the MACD is ranging at -0087. The slightly bearish cross emphasizes the drab sideways trend. A ray of hope can be seen with the RSI’s ability to defend support at 30 and trend towards the average.
EOS/USD 2-hour chart
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