EOS trades above 38.20% Fib Retracement level as it holds an intraday bullish divergence to spike above $2.6 in the opening hours, today.
EOS Price Analysis
On the 3-hourly chart, EOS has not drawn any specific trend over the past month against the US Dollar. Rather, the coin has been a prey to multiple choppy markets before the initial week when there was a subtle uptrend above 61.80% Fib retracement level. The bullish green candlestick took the EOS coin to mark a monthly high and resistance at $2.832 just to have a double-bottom below $2.4 in the previous week. The choppy market trend is due to a lack of definite and steady momentum yet intermittent oscillations.
The 20-day Bollinger Bands laid do not project any unprecedented volatility, and the trend is nearing the upper Band with shows intraday momentum after spiking above $2.6. This has retained fair support from the 50-day and 200-day MA after rising from the weekly bottom below $2.5.
On the contrary, if we emphasize on the daily chart of EOS/USD, we see an uptrend after the coin hit bottom below $2.5 in the previous month’s market crash. It just when the market was trading in red, and Bitcoin was trading around the yearly lows at $3.8k. Although the choppy market is visible on the daily chart, and the trend appears flattened since the first week of April.
The technical indicators confirm the flattish yet bull momentum as the MACD draws a slight positive picture and not a total bearish divergence. Similarly, the RSI of the coin lies at52.94 and holds no trading extremities yet appears directionless.
