- EOS is trapped in a channel, tough to break.
- Long term trend is at risk of heading lower.
EOS, the crypto which surprised everyone in its journey to the sky few weeks ago has got itself trapped in downard sloping trendline channel in the slightly medium term charts and its a tough nut to crack for the bulls to break past.
EOS/USD is up a shade in green on the day at $10.57 and trading in a very narrow band of $10.51 – $10.67. On the 480-minute chart, EOS is stuck in a downaward sloping trendline channel, drawn from its April high of $22.
For bulls to stay relevant, they need to sustain recent low of $9.08 below which they would hibernate. Immediate strong resistance though is placed at $11.5.
EOS/USD 480-minute chart:
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