Prior to last week’s crash, EOS (EOS) had been on a roll, forming a nice daily uptrend and typically leading major altcoins on up days. While EOS wasn’t able to escape the end of September bloodbath, its subsequent bounce of nearly 31% was encouraging.
The top of the recovery has thus far been $3.13, in line with the 12-period EMA. The bulls have been able to set higher lows, creating a nice daily uptrend, even though the RSI is still quite overextended.
Looking at a shorter time-frame, the 4-hour chart is also in a nice uptrend with bulls currently holding both EMAs and looking to break above the high of $3.13 in the upcoming days.
EOS is currently down 2.9% on the day to $2.91, giving the coin a $2.72 billion market cap.
More: Bitcoin’s (BTC) Recovery Hasn’t Been Convincing
Related: KuCoin Introduces ‘Soft Staking’ for Cosmos, EOS, TRON and IOST
Disclaimer: This article is for informational purposes only and should not be taken as investment advice. Always conduct your own due diligence before making investments.