EOS/USD Chart Analysis: EOS eyes $2.57 amid a bull pennant, golden cross

The No. 10 coin consolidates before the next leg higher.
EOS/USD’s technical set up favors the bulls.
The spot set to end the week flat amid light trading.

EOS/USD consolidates the overnight rally to $2.4980, adding nearly 2% so far this holiday-thinned Saturday’s trading. The spot extends the rebound into the third straight day, as the bulls now gather pace for the next push higher. The No. 10 crypto coin remains on track end the week almost unchanged. The market capitalization for EOS/USD stands at $2.29 billion.

Short-term technical perspective

EOS/USD hourly chart

fxsoriginal

The spot is on the verge of a bullish pennant breakout, with an hourly close above 2.4768 likely to validate the pattern. The bulls will head towards the pattern target at $2.5695.

Bolstering the bullish momentum in EOS/USD is a golden cross (50-HMA crossing above the 200-period HMA) spotted on the hourly sticks. While the coin trades above all major HMAs, the hourly Relative Strength Index (RSI) lies flat in the positive territory near 66.0.

Alternatively, a break below the rising trendline support at $2.4620, the pattern will fail, opening doors for a test of the bullish 21-HMA at $2.4050. The aforesaid level is strong support, which could cap the retreat in the near-term.

To conclude, the upside remains more compelling amid the bullish technical set up on the said time horizon.

EOS/USD levels to watch

EOS/USD

Overview
Today last price	2.4656
Today Daily Change	0.04470
Today Daily Change %	1.85
Today daily open	2.4201

Trends
Daily SMA20	2.48019
Daily SMA50	2.58169
Daily SMA100	2.57711
Daily SMA200	2.97942

Levels
Previous Daily High	2.4556
Previous Daily Low	2.3544
Previous Weekly High	2.4556
Previous Weekly Low	2.3087
Previous Monthly High	2.9
Previous Monthly Low	2.2335
Daily Fibonacci 38.2%	2.41694
Daily Fibonacci 61.8%	2.39306
Daily Pivot Point S1	2.36447
Daily Pivot Point S2	2.30883
Daily Pivot Point S3	2.26327
Daily Pivot Point R1	2.46567
Daily Pivot Point R2	2.51123
Daily Pivot Point R3	2.56687

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