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  • EOS follows IOTA in triangle like formation.
  • Downside limited in this downleg.

EOS the crypto, is following IOTA in the triangle formation wherein the ranges are getting norrower and chances of a breakout of the triangle are getting higher in the coming days, while the downside in the current leg is limited.

EOS/USD is down more than 2 percent at $5.698, just above the day’s low. On the 2-hour chart of EOS, it has been forming a triangle and is nearing a breakout point, although chances of a lower breakout are evenly placed to a higher breakout.

For now, downside is limited in this downleg to maximum at $5.60. On the upside, resistance is firmly placed around $5.88-$5.90.

EOS/USD 120-minute chart: