EOS has seen a price rebound, amounting to 7.36% over the past 24 hours of trading, bringing the current price for the cryptocurrency back above the $6.00 to where it currently trades at around $6.39. EOS has now seen a 19.28% price hike over the past 30 trading days with a further, rather remarkable, 64% price surge over the past 90 trading days.

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How to buy EOS on Binance?

EOS remains ranked in 6th position amongst the top-flight cryptocurrency projects by market cap value. EOS presently holds a $5.81 billion market cap valuation and sits 1 billion ahead of 7th position holder, Binance Coin.

EOS Price Analysis

EOS/USD - 1 Day Chart

What Has Been Going On?

EOS has seen a significant price surge during May 2019, where price action has risen by a total of 48% from low to high in May. The EOS market surged higher until reaching resistance around the $6.93 level, which is resistance provided by a long term bearish .382 Fibonacci Retracement level (drawn in red) measured from the June 2018 high to the December 2018 low.

EOS has since fallen from this high but has managed to find strong support around the $5.84 level, which is previous resistance (now turned support) provided to the market during April 2019.

EOS Short Term Term Price Prediction: Bullish

EOS is bullish in the short term, however, price action must overcome the resistance at the $6.93 level for the bullish ride to continue.

If the sellers do regroup and push the price lower, we can expect immediate support toward the downside to be located at $6.00 and $5.84. If the selling continues beneath $5.84, we can expect more support further below at $5.50, $5.00 and $4.92. Further support beneath this is located at $4.50 and $4.00.

EOS Medium Term Price Prediction: Bullish

Over the medium term, after a price surge totaling over 60% throughout the past 90 trading days, EOS is within a bullish trend.

If the bullish pressure continues to push EOS further higher, we can expect immediate resistance above the market to be located at $6.50 and then at the bearish .382 Fibonacci Retracement level at $6.93.

If the buyers can continue to push the market above the $7.00 level, we can expect further higher resistance above to be located at the short term 1.414 and 1.618 Fibonacci Extension levels (drawn in green) priced at $7.26 and $7.85. Further resistance above this is then to be expected at the $8.00 level.

Above $8.00, more resistance can be located at the bearish .5 Fibonacci Retracement levels (drawn in red) priced at $5.58.

What Are The Technical Indicators Reading?

The RSI has recently fallen from overbought conditions to rebound at the 50 level. This suggests that the buyers have been given ample time to rest and regain their energy for the next push higher, whilst the sellers were totally unable to gain any traction within the market. If the RSI can continue to rise further higher, we can expect EOS/USD to continue further above $7.00.