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)
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)
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.
Author
Lorenzo Stroe
Independent Analyst
Lorenzo is an experienced Technical Analyst and Content Writer who has been working in the cryptocurrency industry since 2012. He also has a passion for trading.
