EOS Recovers Against The USD Getting Ready For A Higher Break 

The EOS to USD trading pair has recovered forming support around the $4.50 level and is trading above $5.00. If it is able to hold this support, it will accumulate more gains within the next few trading sessions. According to the price analysis of Aayush Jindal, EOS has formed a contracting triangle with resistance around $5.30. If it breaks the $5.30 & $5.40 resistance levels, it will most likely gather upward momentum to rise above $6.00 soon.

EOS To USD Price Analysis For August 20

During the weekend, the price of EOS took a dip with sellers placing pressure on the market. Fortunately, the buyers gained interest around $4.10 and $4.20 allowing the price of EOS to recover against the USD. The recovery continued until it broke the significant $5.00 resistance.

EOS Price Today – EOS / USD


From the price chart, EOS didn’t just clear the $5.00 resistance but it also cleared the $5.50 resistance settling above the 2-hour 100 SMA. After this, a high formed around the $5.65 level and the price of EOS started correcting lower. The price of EOS fell below the 50% Fibonacci retracement level of the last rise from $4.42 to $5.64 and below the $5.20 level. The good news is that the decline was capped around $4.60 and 4.80. The 2-hour 100 SMA also served as support along with the 61.8% Fibonacci retracement level of the last rise from $4.42 to $5.64. The price started a recovery and is currently trading well above the $5.00 level.

During the early hours of today’s trading, a significant contracting triangle was formed along with resistance at $5.30. All indicators show that the price will break this contracting triangle and the resistance at $5.35. If this happens, it will have enough momentum to start a long-term upside move. The price may swing high into $5.64 and possibly break the $6.00 resistance.

If, on the other hand, the price falls below the significant resistance at $5.00, and below the 100 simple moving average, it may fall as low as $4.40 soon.

Ufuoma Ogono is a cryptocurrency writer with over 3 years experience in the cryptocurrency industry. She dedicates her time to sharing valuable information to members of the cryptocurrency community.


Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.