- EOS Token price action forms a consolidation range in the 4-hour chart.
- The 24-Hour trading volume is $1.205 Billion, a fall of 0.10% in comparison to yesterday.
- The pair of EOS/BTC is trading at 0.00007573 BTC with an intraday gain of +0.48%.
Due to the recent fall in momentum, the EOS coin price forms a long consolidation range between the $4.5 and $4.75 mark. As a result, the momentum is trapped within the range. Thus, a breakout on either side will bring a strong move.
Moreover, the volume is falling gradually in the daily chart compared to the last few weeks. Thus, a rise in the volume will be decisive of the upcoming trend.
The EOS Token price trades at $4.61, increasing 1.95% in market capitalization over the past 24 hours. Furthermore, the intraday trading volume has decreased by 0.10% in the past day.
EOS Token In The 4-Hour Chart
EOS token price action indicates a sideways movement within the 0.236 and 0.382 Fibonacci levels in the 4-hour chart. However, the coin’s price may soon break either of these levels to bring a strong trend.
As per Fibonacci retracement analysis, the resistance levels for the token after the $4.75 mark reside at the $5.00 mark. However, if the price takes a bearish reversal, sellers may find opposition at $4.5 or $4.00.
In a bullish structure, the 4-hour technical Chart’s EMAs move sideways. As a result, the chances of a bullish reversal are low.
The RSI indicator predicts a neutral phase as the slope goes sideways slightly above the 50% mark.
The ADX indicator shows a drastic fall in trend, which means there is a lot of potential in the underlying momentum.
Signal lines and MACD rise slightly higher than the neutral area on the daily chart, according to the MACD indicator. As a result, the token price is showing slight bullish momentum.
Conclusion – EOS Coin’s upcoming trend is not decisive from a technical standpoint. However, the technical indicators show a slightly bullish signal despite an incredible fall in trading volume.
Support – $4.5 or $4.00
Resistance – $4.75 and $5.00