EOS price corrected lower, but
remained supported above $5.00 against the US Dollar. EOS is likely to bounce
back and dips remain supported versus USD, BTC and ETH.
Key Talking Points
- EOS price corrected lower and tested the
$5.05-5.10 support area (Data feed of Kraken) against the US Dollar.
- There is a major bullish trend line formed with
support at $5.20 on the 4-hours chart.
- The price remains supported above the $5.10
level and the 100 simple moving average (4-hours).
EOS Price Analysis
This past week, EOS followed other cryptocurrencies (bitcoin, Ethereum and litecoin) and corrected lower against the US Dollar. EOS price formed a new yearly high near the $6.009 level and later started a strong downside correction.
above indicates that EOS price corrected below the $5.65 and $5.45 support
levels. There was also a break below the $5.40 level and a connecting bullish trend
line on the same chart.
Sellers gained traction and pushed the price towards…
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