- EOS climbs back above $7.00 amid global recovery.
- Ultimate $8,00 is still out of reach.
EOS, the 5th digital coin by market value, gained over 5% on a daily basis and moved marginally above $7.00 handle during early Asian hours. The upside is caused by general recovery on the cryptocurrency market, where all major coins are trading on a green territory. EOS/USD experienced a strong growth of trading volumes that exceeded $2B for a short period of time. Currently the coin is consolidating gains as trading activity is fading away.
EOS technical picture
The intraday picture looks better as the price managed to intersect 50-SMA (1-hour chart) and critical $7.00. However, $8.00 is the ultimate resistance for the coin. It is strengthened 78.6% Fibo level 200-SMAs on 1-hour chart. Once it is cleared, $9.00 will come into focus. On the downside, if the move above $7.00 proves to be unsustainable, the selling pressure may be extended towards $6.00 and $5.70.
EOS/USD, 1-hour chart
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