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  • EOS is down 1.86% on Monday after lower corrections from the stubborn $5.50 resistance.
  • The primary support is at $4.60 but buyers must fight to keep the price above $5.00 and preferably defend $5.2 support.

The market is currently sending mixed messages especially with some cryptocurrencies trading in the green and others in the red. The total market cap has recovered slightly from 2018 lows at $189 billion to the current $201 billion. EOS, on the other hand, is trading at $5.3 following a 1.86% drop on the day.

There was a brief spike on Thursday last week using the support $4.80. Though, the movement north came to a halt $5.50. EOS/USD has since been range-bound while consolidating gains above $5.00. The weekend trading was stable above this level but at the same time, unable to beat the resistance at $5.50. EOS must break this stubborn resistance to realize growth toward $6.00.

The price approached the critical resistance towards the close of the session on Sunday. However, lower corrections kicked in on failure to break above the hurdle. EOS also broke below the trendline support at $5.37 on the 15-minutes timeframe chart. The current bear trend is spelling trouble the bulls in the near-term. EOS/USD is flirting with the 23.6% Fibonacci level but risk further breakdown to $5.00. It is vital that the short-term support at $5.2 is defended because a break below $5.0 could test the primary support at $4.60.

EOS/USD 15-minutes chart

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