EOS/USD is 3% higher on the session as many other cryptocurrencies suffer. The trendline that originated back in May has now been broken. Last week EOS/USD was flirting with the long term trendline that originated back at the end of May. After consecutive lower highs and lower lows it seems that the price has broken out to the upside. What is good about this move is that it was backed by volume. Right at the end of the move those who have a keen eye would notice the divergence from the RSI indicator. On the daily chart above the next major resistance is 5.50. This is where price found support after the rally up to 8.90 in May. 3.00 could now be a base for the pair as it was firmly rejected and now inspired a break to higher levels. One thing I would be wary of on the technical standpoint is the RSI at its current level. Right now it is forming something called a failure swing or bearish hidden divergence. If it reaches overbought it might attract some sellers. From an intraday point of view 3.45 will be the support level to watch if there is some mean reversion after the break higher FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street Crypto News share Read Next USD/CAD trades in red near 1.3150 as WTI adds more than 2% on Monday FX Street 4 years EOS/USD is 3% higher on the session as many other cryptocurrencies suffer. The trendline that originated back in May has now been broken. Last week EOS/USD was flirting with the long term trendline that originated back at the end of May. After consecutive lower highs and lower lows it seems that the price has broken out to the upside. What is good about this move is that it was backed by volume. Right at the end of the move those who have a keen eye would notice the divergence from the RSI indicator. On the daily chart… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
