EOS price analysis: EOS/USD in the green up 3.26% ahead of token swap; will the price tank on June 2 like Tron (TRX)

• Tron price slides to trade at $0.061 on the day of mainnet launch.
• EOS supported strongly above $12.00, pending upside movement to encounter resistance at $14.00 and $16.00.

EOS is trading lock-step on Thursday afternoon (GMT), although there are no major movements in price. EOS/USD exchanging hands above $12.00 but the upside has been capped at $12.50. During the trading session yesterday, EOS price rejected the support at $12.20 – $12.00. However, the bulls managed to find a support at $11.80 to $11.60 zone.

Tron has finally earned its independence today as its mainnet beta version went live for testing. The TRX token has officially been removed from Ethereum blockchain to Tron blockchain. Tron price has, however, reacted with a slide and is trading at $0.061. EOS, on the other hand,  is also launching its EOSIO software on June 2. While it is one of the most anticipated events in the industry, it is unclear if EOS/USD will react with a surge or could it correct lower on the D-day like Tron?

Technically EOS is forming a bullish flag pattern pending a break out to the upside with the key resistance at $14.00 and $16.00 respectively. The stochastic is in an upward direction, although it is above the 70 mark which means that the bulls still have the momentum to push for higher corrections. However, the 50 SMA has crossed below the 200 SMA signaling that the sellers continue to seek entry in the near-term. On the downside, EOS is supported at $12.20, but a stronger support lies at $11.80 – $11.60 zone.

EOS/USD 15′ chart