Technical Analysis: EOS (EOS) Breaks Above a Short Equilibrium Pattern


EOS (EOS) was in the process of forming an equilibrium pattern on the daily chart but the bulls have been able to break out of it before confirmation. The last high was set at $3.424 and EOS is now up 5.7% on the day to $3.65.

EOS price chart
EOS/USD 1-day chart (TradingView)

Prior to the recent breakout, the bulls were able to hold the 12-period EMA four times in a row and the bearish volume had been declining every day. The bulls are now looking for more continuation after surpassing the remaining resistance level at $3.575.

The 4-hour chart is now clearly in favor of the bulls which have seen a nice volume increase over the past 24 hours.

Investors interested in trading EOS commission-free can earn $25 in free BTC by signing up for the Voyager app through this link (or use code: SLUDGE25).

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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.

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