EOS price analysis: EOS/USD makes a modest break above a wedge pattern, that was containing further upside

• EOS/USD bulls gather enough momentum to take the price through a wedge pattern, that was containing upside.
• Immediately there is a chunky supply zone for the bulls to try and break down, tracking from $12.65-13.02.

The EOS price is seen up 6% during the latter stages of trading on Thursday, once again outperforming its peers across the cryptocurrency market. Within recent trading, the price managed to breakout from a wedge pattern that had been limiting upside.

In terms of the mentioned pattern formation, the price had been dictated by this since 24th May. Hitting the upper part of the wedge and being knocked back down south, until this afternoon on Thursday, bulls gathering enough momentum to take the price through, seeing a 60-minute candle close above.

EOS/USD has another challenge just ahead, which is a chunky supply zone, that has been causing problems since 23rd May. The recent break to the upside from the wedge pattern, sees the price immediately within that selling zone. This tracks from $12.65 to $13.02. Support in the near-term is seen now at the top of the mentioned wedge, at $12.50.

EOS/USD 60-minute chart