EOS (EOS) Price Analysis: EOS/USD bearish downside pressure mounting after key support is broken

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  • EOS price down just shy of 2% on Friday, one of the standout under-performers in the session.
  • Price action breached a key near-term ascending trend line seen for EOS/USD.

 

The EOS price was seen nursing sizeable losses towards the latter part of Friday’s session, in negative territory by 2%. Cooling was seen generally across the board within the cryptocurrency market. EOS being one of the clear underperformers.

Price action for EOS/USD broke out from a supporting ascending trend line. This has been providing comfort for the price seen the low print on 29th October, which was seen at $5.0505. The lowest level that had been seen since 12th October.

Considering the recent technical breakout complete by the bears, eyes will be on for a potential retest underneath the breached support, this is seen at $5.5330. The price remains vulnerable to further downside, upon the retest. Looking to the downside further support is seen at 5.3074, low area between 3-4 November.

 

EOS/USD daily chart

 

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