EOS has struggled this week after dropping by a total of 27%. The cryptocurrency saw a further 3% price fall over the past 24 hours and it sets its sights to re-test the support around $2.64. EOS has lost a significant 50% over the past 3 months and has a long road ahead to recovery.

EOS remains the seventh-largest cryptocurrency with a market cap of $2.61 billion.

Looking at the EOS/USD 1-Day Chart:

Since our previous EOS analysis , EOS has suffered heavily amid the Bitcoin bloodbath, which caused it to fall beneath the support at $3.00. EOS/USD continued to slip further until finding support at $2.64, provided by the downside 1.414 Fib Extension, where a rebound was seen.

From above: The nearest levels of resistance lie at $2.98 and $3.00. Above $3.00, resistance lies at $3.20, $3.50, $3.99, and $4.00. The resistance between $4.00 and $4.50 is bolstered due to the 100-days EMA and 200-days EMA being located here.

From below: The nearest level of support lies at $2.64. If the sellers push the market beneath $2.60, support is found at $2.50, $2.25 (2019 price low), and $2.16 (downside 1.618 Fib Extension). Lower support is expected at $2.05, $2.00, and $1.76.

The trading volume remains very low.

The RSI has reached oversold conditions which suggest that the sellers are in complete control. However, the Stochastic RSI has produced a bullish crossover signal which could signal a potential rebound higher.

Looking at the EOS/BTC 1-Day Chart:

Against Bitcoin, EOS continued to fall from the resistance at 0.000405 BTC until finding the current support level at around 0.0003325 BTC. For the past 2 months, EOS has been trapped within a range between 0.00047 BTC and 0.000305 BTC.

From above: The nearest level of resistance lies at 0.00038 BTC, and 0.00040 BTC. Above this, resistance lies at 0.000405 BTC, 0.0004327 BTC, 0.00045 BTC (100-days EMA), and 0.00047 BTC.

From below: The nearest level of support lies at 0.00305 BTC. Beneath this, support is located at 0.0002904 BRC, 0.0002676 BTC, and 0.00025 BTC.

The trading volume remains very low.

The Stochastic RSI has produced a bullish crossover signal which should send the market higher.

The post EOS Price Analysis: EOS Slips To $2.60 Support But Can It Kick Off From Here? appeared first on CryptoPotato.

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