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  • EOSFinex is built on EOSIO blockchain and will start supporting EOS/USD, BTC/USD and ETH/USD upon launching.
  • EOS must clear the resistance at $5.50 in order to open the way for a retracement to $6.0.

EOS slowed down the bullish momentum over the weekend and the price consolidated in a rising wedge pattern. The trading has been lock-step since Friday with the upside limited below $5.50. At present, EOS/USD is correcting lower in addition to the 0.93% decline on the day.

In the meantime, Bitfinex exchange is preparing the release of EOSFinex Decentralized exchange this September. The dex has been build using EOSIO blockchain technology and is believed to be a high-performance platform. Initially, EOSFinex is expected to support EOS/USD, BTC/USD and ETH/USD trading pairs. Nevertheless, expansion to allow more trading pair is paramount and trivial.

At present, EOS is trading at $5.35 after trading intraday highs of $5.47. The trend is turning bearish with the technical indicators sending bearish signals. The bullish trendline, which happens to coincide with the 2-hour 50 simple moving average is supporting the price immediately. On the flip side, $5.40 is limiting the gains while the critical resistance is at $5.50. EOS must clear the resistance at $5.50 in order to open the way for a retracement to $6.0. On the other hand, is the trendline support is broken, $5.0 and $4.8 are in line to offer support.

EOS/USD 2-hour chart

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