Decoding EOS Price Chart, Indicators, and Its Forecast On Daily

18 jul

As of writing, in a broader view, the EOS coins price has breached its narrow declining ranges it was following for a prolonged span. The breakout makes it a bullish pattern, precisely the falling wedge pattern.

Where the price took major support from the wedge lower border by JULY 5th, where the major market had been bullish due to market leader BTC showing sustenance after a great dip. From the lower border, the price got the chance to rise 35%.
At press time, the price has taken a rest near the 50-day EMA; once passed, the price could head towards a 200-day EMA in the short term, where both bands, as of writing, act as a hurdle to pass.

Despite the bearish EMA's, the MACD displayed a broad bull cross with a histogram at 0.0160, and RSI moved past the median line, which as of writing, flashed at 56.86.

As of writing state, if in the future sessions, the price of EOS rises, then the nearest interruptions would lie around $0.7250 and $0.9650. However, if the price dips and comes back into the range, the pattern would lose its significance while dipping beneath $0.5500, it would take to the lows at $0.4500.