- EOS was the market leader with gains exceeding 10% and breaking past $3.9 resistance.
- EOS technical levels remain intact in spite of the correction from the highs.
The erratic bullish momentum that is affecting various cryptocurrencies was witnessed again yesterday. EOS was the market leader with gains exceeding 10%. The asset corrected higher from the opening price of $3.3048 to form a high around $3.92. Other assets that recorded formidable gains include Bitcoin which reclaimed the support above $3,800 and Litecoin broke above the resistance at $55.
EOS technical levels remain intact in spite of the correction from the above-mentioned highs. It is changing hands at $3.78 after trending 1.82% lower on Wednesday. A look at the chart shows that the former support at $3.8 is now the immediate resistance. Support has been established at $3.7 followed closely by another anchor at the 100-day Simple Moving Average 15-minutes chart.
Although the Relative Strength Index (RSI) has retracted from the overbought, it is heading back north after testing lows around 46.42. The Moving Average Convergence Divergence (MACD) is still in the positive region. The MACD rose to highs around +1088 on the 15′ chart. As long as EOS can keep above $3.7 short-term support, there is a high chance that it will resume the uptrend towards $3.9 resistance and eventually test the next target at $4.0.
EOS/USD 15-minutes chart
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