- EOS follows BCH in breaking out on short term.
- Momentum needs to continue for further upside.
EOS follows other cryptos such as Bitcoin Cash in breaking out on the short term chart and it may continue to stay up, at least for the day, provided bulls carry on the momentum in a low volume weekend trading.
EOS/USD is up nearly 2 percent at $5.410 after retracing a bit from day’s high of $5.429. On the 30-minute chart of this crypto, it has been able to cross past a descending trendline resistance, although has quickly given back after crossing past this week’s high.
That gives us a sign that bulls lack momentum to carry on after this small breakout. Immediate support for now stands at $5.38.
EOS/USD 30-minute chart: