EOS has started this week strongly after experiencing a 12.44 percent increase and is trading at 8.74 USD with a 5.28 percent increase in 24 hours as of press time. Despite the fact that EOS recently launched its Mainnet, the token has been plagued with bug issues, blockchain pauses, RAM problems and centralization fears. The recent RAM issues have been a cause for concern for the network. Because EOS was designed to be a network that let’s its customers conduct free transactions. However, the soaring RAM prices have made this endeavor difficult.
Bullish Return For EOS After June’s Slip In Prices
According to crypto writer Yaz Satoshi, the price of EOS slipped in June, falling through the 0.618 percent Fibonacci Retracement level and found support at 7.97 USD. The price movement had found significant support at 7.58 USD level. We can see through the price movement that the token also found some level of support at the 1.618 Fibonacci retracement at 6.92 USD.
EOS has also found strong support the 8.54 USD level. If this momentum can continue into the month and in the near future, the bulls may initiate a movement that will push prices back to the 10 USD resistance level. This resistance can be seen at the 0.618 Fibonacci Retracement at 11.17 USD. Note that the resistance levels can be seen at June’s monthly high at 15.54 USD, which is supported by the 0.382 percent Fibonacci Retracement.
EOS Price Today / USD
On the other hand, should the bullish movement stop, we will see the initial support level at the yearly 7.58 USD opening price. Support can also be located below this level at 6.07 USD via the 0.886 Fibonacci Retracement. RSI indicators are currently battling with the 50 handle and there could be a break above this handle which would show that the bullish movement is still building and in control. The next few sessions are important.