EOS Technical Analysis: EOS/USD still facing resistance at $2.61 despite huge 8% increase in price
|- EOS/USD is up 8% in the last 24 hours from a low of $2.4 to $2.61.
- EOS bulls managed to establish a daily uptrend.
After holding two higher lows in a row at $2.3 and $2.32 respectively, EOS has now confirmed a daily uptrend. Buyers have pushed the digital asset above the 12-EMA and the 26-EMA which crossed bearishly on June 14.
EOS/USD daily chart
-637296511657598087.png){kind=link}
After the massive surge, bulls are now fighting for the $2.614 high established on June 22. The peak of the breakout is $2.611, extremely close to the high, but the bulls haven’t managed to crack the resistance level yet. EOS could easily consolidate for a few days and wait for the EMAs to catch up before attempting a breakout above $2.614.
EOS/USD 4-hour chart
-637296512004184450.png){kind=link}
The bullish breakout is clearly healthy as it happened over the course of many hours. Support can be found at $2.5 psychological level and $2.48 where the current 12-EMA is located.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.