EOS has been growing strongly since the beginning of the year amid improved sentiments on the market. The recent development implies that the coin may extend the upside momentum towards $5.00. EOS, now the 8th largest digital asset with the current market value of $4.2 billion, has gained over 8% in recent 24 hours to trade at $4.57 by press time. The coin has been doing well recently, inspired by the general recovery on the global cryptocurrency market. EOS/USD has grown by nearly 80% since the beginning of the year, benefitting from the bullish sentiments. EOS/USD: technical picture remains bullish A strong move above the upper boundary of the recent consolidation channel at $4.35 helped create a strong bullish momentum and push the price towards $4.63. While the upside impulse is fading out, the technical picture remains bullish as long as it stays above the said broken channel resistance. On the upside, the next barrier is created by psychological $5.00. Last time EOS/USD traded that high in November 2019. A sustainable move above this area will bring SMA100 weekly at $5.42 back in focus. COnsidering an upward-looking RSI on a daily chart, bullish scenario looks likely. On the downside, a move below $4.35 will bring the coin back inside the channel with the lower border at $4.00. After a short period of consolidation the coin may resume the downside and break below the channel support with the next bearish target at $3.30. This technical barrier is created by a confluence of strong technical levels, including SMA50, SMA200 daily and the lower line of the daily Bollinger Band. Most likely this support area will slow down the sell-off and serve as a jumping off ground for another bullish wave. EOS/USD daily chart FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street Crypto News share Read Next EUR/JPY Price Analysis: Upside still capped by the 55-day SMA FX Street 2 years EOS has been growing strongly since the beginning of the year amid improved sentiments on the market. The recent development implies that the coin may extend the upside momentum towards $5.00. EOS, now the 8th largest digital asset with the current market value of $4.2 billion, has gained over 8% in recent 24 hours to trade at $4.57 by press time. The coin has been doing well recently, inspired by the general recovery on the global cryptocurrency market. EOS/USD has grown by nearly 80% since the beginning of the year, benefitting from the bullish sentiments. EOS/USD: technical picture remains bullish… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
