EOS Price Analysis: EOS/USD continues to take a breather ahead of next committed direction, similar behavior was seen in current region on 7th July, price spiked above $9, to then tank down to $6

• EOS seen up with minor gains above 1% on Thursday, as market remains muted for now.
• Similar price behavior around a consolidation zone seen on 7th July, when price then shot up to $9, before dropping down to $6 area.

The EOS price on Thursday was seen up with some modest gains just over 1%, as it remains within consolidation mode. Across the crypto market can see generally muted price action, after the chunky moves seen on the 24th July.

EOS/USD near-term doesn’t indicate of any drastic shift in direction yet, it is in a consolidation region that was seen at the start of July, the 7th to be exact. The price saw similar behavior before it shot briefly above $9, before then coming under heavy selling pressure, to drop down to the $6 region.

Technically, looking via the 60-minute chart, the price is trading very closely to the 50MA, support to the downside is seen around $8.40 at the 100MA. To the upside, a chunky resistance block is in the way of $9, tracking from $8.82-8.95.

EOS/USD 60-minute chart