- EOS price is trading inside a descending triangle pattern over the daily chart.
- The crypto asset dropped below 20, 50, 100, and 200-days Daily Moving Average.
- The pair of EOS/BTC is at 0.00005449 BTC with an intraday drop of 0.37%.
EOS price has been trading inside a descending triangle pattern over the daily chart. The token must escape the consolidation phase and try to register its escape. EOS investors need to wait for any directional change over the daily chart. EOS coin price keeps on sticking into the short sellers clutch with short selling pressure over the token. EOS bulls need to accumulate themselves to register the token’s recovery phase over the chart.
EOS coin is presently CMP at $2.08 and has lost 0.98% of its market capitalization in the last 24-hour period. Trading volume has decreased by 7.33% in the intraday trading session. Thai shows that EOS is experiencing short selling at the moment and EOS bulls need to come forward to balance the equation with bears. Volume to market cap ratio is 0.1548.
EOS price is trading inside a descending triangle pattern below the upper trendline. The toke must escape the consolidation phase and needs to attract more buyers to gain uptrend in the intraday trading session. Gradually decreasing volume signifies EOS being stuck inside the above mentioned pattern. EOS investors need to wait for any directional change over the daily chart.
What do Technical Indicators Suggest about EOS?
EOS price got trapped inside the descending triangle pattern and is now waiting for the bulls to accumulate and let EOS escape from the pattern. Technical Indicators suggest the token being trapped inside the short sellers clutch. Relative Strength Index showcases neutrality for EOS coin. RSI is at 40 and EOS investors can expect any directional change upto 45.
MACD exhibits bearish momentum of EOS token. The MACD line is below the signale line waiting for any type of crossover. EOS investors also need to wait for any directional change over the daily chart.
Conclusion
EOS price has been trading inside a descending triangle pattern over the daily chart. The token must escape the consolidation phase and try to register its escape. Technical Indicators suggest the token being trapped inside the short sellers clutch. EOS investors also need to wait for any directional change over the daily chart.
Technical Levels
Support Levels: $1.80 and $1.70
Resistance Levels: $2.30 and $3.00
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational ideas only, and they do not establish the financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
