EOS Price Analysis

Eos has seen a small price increase totalling +0.10% over the past 24 hours of trading, bringing the current trading price up to around $2.46, at the time of writing. The cryptocurrency has now seen a -1.69% price drop over the past 7 trading days with a further -3.36% price fall over the past 30 trading days.

Where is EOS Ranked?

EOS is now ranked in 5th position in the market cap rankings as it currently holds a $2.21 billion market cap value. The cryptocurrency has seen a precipitous -54% price plummet over the past 90 trading days as the 19 month old project now trades at a value that is -88% lower than the all time high price.

EOS/USD – SHORT TERM – 4HR CHART

What’s been going on?

Since our last EOS/USD analysis, we can see that EOS was unable to overcome the bearish .236 Fibonacci Retracement level (drawn in red) priced at $2.56. The market attemtpted to break above this resistance but had failed twice and proceeded to roll over.

Where are we now?

EOS then went on to fall until reaching support at the short term .5 Fibonacci Retracement level (drawn in green) priced at $2.35. After hitting this level of support we can see that price action has rebounded and is now trading below resistance provided by the short term .382. FIbonacci Retracement level (drawn in green) priced at $2.54.

What is the current trend?

The market is still trading within a tight range between $2.56 and $2.30 and therefore the current market trend is neutral.

For this market to be considered bearish, we would need to see price action fall and break below the $2.24 handle. For this market to be considered bullish, we would need to see price action climb higher and break above the $2.60 handle.

Where can we go from here?

If the sellers continue to pressure price action lower for EOS/USD, we can expect immediate support toward the downside to be located at the short term .5 Fibonacci Retracement level (drawn in green) priced at $2.35.

If the bears continue to push price action further lower then there is more support at the short term downside 1.272 FIbonacci Extension level (drawn in lilac) priced at $2.24. This is followed by more support at the short term .618 Fibonacci Retracement level (drawn in green) priced at $2.16.

Further support below this can then be expected at the short term downside 1.618 Fibonacci Extension level (drawn in lilac) priced at $2.02.

If the market drops below the $2.00 handle then more support can be expected at the short term .786 Fibonacci Retracement level (drawn in red) priced at $1.90.

What if the bulls regain control?

Alternatively, if the bulls regroup and begin to push price action higher they will immediately meet support at the short term .382 Fibonacci Retracement level (drawn in greeN) priced at $2.54. This is immediately followed by higher resistance at the bearish .236 Fibonacci Retracement level (drawn in red) priced at $2.56.

If the bullish momentum can cause EOS/USD to climb further higher, more resistance above can then be expected at the short term 1.272 and 1.414 Fibonacci Extension levels (drawn in blue) priced at $2.87 and $2.99, respectively.

If the buyers can push price action for EOS/USD above the $3.00 handle, more resistance above can then be expected at the short term 1.618 Fibonacci Extension level (drawn in blue) priced at $3.17.