The price of EOS is approaching a breakout but the bulls will need to gather momentum to successfully breakout of the descending channel. On the long-term chart, EOS is attempting a breakout but there hasn’t been any confirmations yet. EOS has always been known for its surprising bullish bearish rivalry. Once again, it has attempted a breakout upside that may lead to a significant boost in price. Before the breakout can be confirmed, EOS will need to cross certain levels first.
EOS Price Today – EOS / USD
This morning, the EOS to USD trading pair was down by 2% trading at $5.267 when it hit today’s low. The price crossed a descending channel on the long term price chart that started to set roots from the April high of $23.02. If EOS is able to cross the earlier high of $6.6, the breakout would be confirmed. But if EOS remains below this level, there will be no breakout guarantee. EOS must try to stay above the trendline to keep the possibility of a breakout alive.
EOS Price Analysis Now!
At the time of writing, EOS was trading in green at $5.31. This indicates a 0.57% rise against the USD and a 0.76% rise against Bitcoin. The price action shows that a breakout is still possible but as long as the level is still below $6.6, the breakout can’t be confirmed. The trading volume over a 24 hour period is $535,558,128 and the market capitalization is $4,809,989,275.
The next few days of trading will determine if the price action of EOS will change in favor of the bears or the bulls. A breakout is just what EOS needs to reestablish the loyalty of investors who are already wondering if the new blockchain project can pull its weight. Hopefully, the upcoming Bitcoin bull run will give EOS and other cryptocurrencies a much needed boost.
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