Technical Analysis for EOS for 5th October 2021
EOS uptrend Labored, will Buyers Clear $5.5?
EOS is one of the most active blockchain platforms, ranked in the top-15 in September.
Past Performance of EOS
The EOS crypto price is under pressure from the top-down analysis.
Even so, the uptrend is defined as subject to a high-volume close above the primary resistance trend line visible in the daily chart.
At present, CryptoAltum data reveals that EOS buyers have the upper hand, adding six percent on the last trading day.
What to Expect of EOS
Despite overall market confidence, EOS and crypto prices aren't out of the woods yet.
Based on the daily chart, EOS bulls must clear above $5—the middle BB and July 2021 highs.
In that eventuality, EOS prices may find the base for a swing high to $6 and later $7 in a buy trend continuation pattern.
On the flip side, there would be concerns if bulls fail to confirm last week's gains.
EOS Technical Analysis
The uptrend is valid as long as $3.5 holds—based on price action suggestions in the daily chart.
Even so, how buyers react at $5.5 would determine the short-term trend.
A wide-ranging bar above July 2021 highs open the doors for $7 or better in the medium term.
A collapse of prices from spot rates would force capital flight in a possible dump that may push EOS back to $3.5 in a retest.
Resistance Line to Watch: $3.5
Support Line to Watch $3.5
Disclaimer: Opinions expressed are not investment advice. Do your research.
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