- A bull flag pattern can be seen for EOS/USD on the 60-minute chart view.
- $10.45 resistance would need to be cleared, which would invite a retest of 14th June highs, around $11.60.
The EOS price is seen softer on Monday, down 0.50%, as the pressure from the market bears remains evident across the board, within the crypto market. There has been a lack of bullish driven sentiment to assist in any change of trend.
Since running into problems at the supply zone at $11.60, EOS/USD has been within a stubborn downward trend over the past week now. Despite the bearish price action, a bullish flag pattern can be seen to have formed on 60-minute chart.
Technically, should the price manage to break above $10.45, where the upper trend line of the bull flag is tracking, then this could see a decent push to the upside. A retest of the highs on 14th June would be a likely near-term upside target, if cleared, this could be very inviting to some further bullish momentum, seeing $13 as another possibility. Support is currently tracking at $9.65 the lower part of the flag formation.
EOS/USD 60-minute chart