EOS Price Analysis: EOS/USD plummets 10%, as bears breach vital near-term support, seeing it fall off a cliff

• “‹”‹”‹”‹”‹”‹EOS price on Monday free falls in the latter stages of trading, dropping around 10%.
• EOS/USD narrowing 3 session price range of $0.50 has been broken, managing to catch immediate support at consolidation levels seen on 15th July.

The EOS price was hit in the latter part of Monday’s session, dropping over 10%, after it broke out of narrowing $0.50 trading range, that had been the case for the past three days. There was an evident cooling across the board, after the big rally seen within the crypto market on Friday.

EOS/USD managed to find near-term support at the lows of the session, around consolidation levels that were seen on 15th July, prior to a chunky bull-run that saw it rally back above the $9 level on 18th July.

Technically, near-term resistance may now be seen at a previous demand area for EOS/USD, $7.54-7.76, this may prove to be a sticky one to break back through. There are signs of encouragement for the bulls however, the RSI is well into oversold territory, which saw it drop to the 16 mark, indicating a swing high could be probable.

EOS/USD 60-minute chart