EOS Technical Analysis: EOS/USD is on the rise

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EOS/USD Daily Chart

  • EOS/USD went up from $6.43 to 6.71 in the early hours of Thursday.
  • The market has had a bullish breakout from a triangle formation.
  • The SMA 20 curve converged with the SMA 50 curve but then instantly diverged away, which is a bullish sign.
  • The relative strength index (RSI) indicator has crept into the overbought territory.

EOS/USD 4-Hour Chart

  • The widening of the 20-day Bollinger band shows increasing market volatility.
  • The MACD indicator shows continued bullish momentum.
  • The latest session has crept outside the upper curve of the Bollinger band.
  • Nearest resistance lies at $6.75.

EOS/USD Hourly Chart

  • The hourly EOS/USD chart shows a head and shoulders pattern as indicated by the rectangles.
  • The Ichimoku indicator shows the possibility of a near-term bearish correction.
  • The Elliot Oscillator has had three consecutive bullish sessions.

Key Levels

 

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