Search ForexCrunch
  • EOS continues to gain over the weekend.
  • Technical picture looks favourable for the bulls.

EOS bulls who were resting for a long time, may get time to make a comeback as the price consolidation after the recent fall in prices work in their favour, at least in the short term. EOS has now become the world’s largest ever ICO to have raised more than $4 billion, dwarfing Telegram’s much hyped $1.7 billion in token sale earlier this year.

EOS/USD is up more than 1 percent at $12.365 and trading in a narrow range of $12.09 – $12.45 so far, a sign of low volume low volatility price consolidation, which is also visible on the 240-minute chart of this crypto.

240-minute chart of EOS shows the price managed to stay above the falling trendline, drawn from its recent all time highs and adjoined to recent lower highs. It has been able to hold on to this trendline through this week after the breakout and the more it stays above it, the better chances for the bulls to take it farther up.

EOS/USD 240-minute chart