- EOS/USD has just moved south and now trades 1.13% lower on the session.
- The pair is now forming a consolidation pattern between 2.818 and 2.975.
EOS/USD is one of the more bearish cryptocurrencies on Monday and the last couple of four-hour candles have been hijacked by the bears.
Now there is a pronounced consolidation point between 2.818 and 2.975 and a break either way could confirm the longer-term direction.
The relative strength index (RSI) has moved higher and made a higher high wave but the price has made an equal wave high at 2.975. This momentum could take price lower.
The volume on the sell-side is much higher than the buy-side volume and the support target is 2.828.
Before that, there is a support level at 2.865 that might cause the bears some problems.
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