EOS price analysis: EOS/USD to spike to $5.5 before midnight

TL;DR Breakdown

• The Bollinger band is wide on the four-hour price analysis chart.
• EOS is fluctuating between $4.8549 and $5.0717 in the last 24 hours.
• RSI and MACD analysis on the 1-Day and 4-Hour price chart suggests that the price will increase further.

EOS price analysis: General price overview

The daily EOS price analysis chart began off whole the sellers controlled the market causing price surge. The buyers dominated the market for the first 15 minutes sending the prices to the highest of the day. Sellers came into the market and caused resistance at the intraday high of $5.3. This resistance was so significant as it made the prices drop forming several inverted triangle patterns to the lows of $5.1.The bulls had created a week of support that made the sellers push the prices to $5.2, where they faced another strong resistance from the bears. The sellers came in large numbers sending the prices to intraday lows of $5.0.

The general cryptocurrency market is bullish, as the heat map suggests.

Cryptocurrency heat map by Coin360

The most prominent digital currency BTC has recorded a 0.83 percent increase, and the coin is trading at $47.9K. Its all-time close competitor ETH is also bullish, it has also recorded a slight percent increment, and it is currently trading at $3.5K. Altcoin, like the meme coin, continues to bleed. This week has been generally bearish to most of the altcoins and the cryptocurrency market in general. Even though some altcoins are trading in a bearish manner, others have recorded massive gains in the last 24 hours; MTL tops the list of gainers with a 60 percent gain. EOS/USD is trading at a loss of -0.8 on the daily cryptocurrency heatmap.

4-hour EOS price analysis: Bullish signal

EOS Price Chart by TradingView

The Bollinger band is wide on the four-hour price analysis chart. The wideness of the Bollinger band signaled high volatility of the EOS/USD pair. The is leaning on the lower band, meaning EOS price is in the hands of the sellers.

The MACD line and the red line have been crossing each other several times in the four-hour chart. The MACD lines are presently pointing towards the red line, which indicates that the bulls are in the process of reversing the bear trend.

On the four-hour Price analysis chart, the EOS/USD began with a bull momentum, which was cut short by the bears. The market traded in moderate momentum from 01:35 to 02:45, where the bulls made the price rise before reaching resistance at $5.2.

EOS price analysis: Conclusion

The daily price analysis chart is in a strong upswing, implying that EOS has a good chance of reaching its target at $5.5 by the end of the day. Most technicals are showing positive signals.

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.

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