EOS Technical Analysis: EOS/USD channel to the skies or down under?

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  • EOS was seen trading down some 1.60% in the latter stages of trading on Wednesday. 
  • EOS/USD is moving within an ascending channel to the north. However, such pattern can be subject to a breakout to the downside at some point. 
  • The price was subject to some touted profit-taking, as seen across the board. 

 

 

EOS/USD 4-hour chart 


 
 

Spot rate:                  .5.6759

Relative change:      -1.77%

High:                         5.8377

Low:                          5.6210

 

Trend:                       Bearish

 

Support 1:                5.5640, lower trend line of channel.

Support 2:                5.4157, 50 & 100MAs (4-hour).

Support 3:                5.2751, 3 November low. 

Resistance 1:           5.8090, upper part of channel.

Resistance 2:           5.8377, session high (Wednesday) & resistance.

Resistance 3:           6.0000, psychological level & supply area. 

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