This website uses cookies to ensure you get the best experience on our website

Technical Analysis for EOSUSD for 14th October 2021

EOS Bulls Defiant Despite Weakness, Will $4 Hold?

Past Performance of EOS

The EOS/USDT price remains in a tight trade range as per candlestick arrangements in the daily chart. 

As of writing, EOS is up three percent versus the greenback, bouncing higher after days of consolidation. 

Even so, EOS prices are overly pinned lower within a descending channel defined by the double-bar bear reversal pattern of October 9 and 10.

What to Expect of EOS

Relative to other assets, EOS prices aren't volatile. 

EOS/USDT prices are waving horizontally within a $3 zone with caps at $3.5 and $6.5 but inside a descending channel. 

A close above October 20212 highs at $5 may be the foundation for a rally towards $6.5 and later $7.5. 

Conversely, further contracts would confirm the weakness of the October 10 bar. 

Subsequently, this may force EOS below the middle BB towards $3.5 in a bear trend continuation pattern.

EOS Technical Analysis

EOS candlestick arrangement in the daily chart suggests that prices have a local support at around $4 and the middle BB. 

With a series of lower lows in the past few days, losses below this mark may see EOS slide back to $3.5 in a bear trend continuation. 

A close above the primary resistance trend line and October 2021 highs, on the other hand, could signal uptrend resumption. In that case, EOS bulls may set sight on $6.5 and later $7.5.

Resistance level to watch: $6.5

Support level to watch: $4

Disclaimer: Opinions expressed are not investment advice. Do your research.

For more interesting tips and facts visit our Education Centre.

Have Questions? 

We're available 24/7 to help you. You can email us, or send us a message on WhatsApp, Telegram or Messenger!

Risk Disclosure: Trading cryptocurrencies or any other financial instrument involves a significant level of risk and may result in a total loss of your investment. You should consider carefully whether investing in Bitcoin or any other instrument offered by CryptoAltum is appropriate to your financial situation. CryptoAltum only accepts deposits in Cryptocurrencies. By trading with CryptoAltum you acknowledge your understanding of this risk disclosure and your agreement with the Terms and Conditions.

This website is not directed at any jurisdiction and is not intended for any use that would be contrary to local law or regulation.

CryptoAltum does not accept any clients under the age of 18. 
  • Copyright Techcraft Ltd (CryptoAltum) 2020