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EOS price rallies across $2.700: what’s next?

On the 30th of May, the EOS price line moved across the $2.70 level after a short retracement towards the $2.600 mark. Big_Mike716 is a TradingView analyst who believed that the cryptocurrency will move towards the $3.600 level, as its long trade move.

1-Day EOS price analysis (30th May)

EOS Price Chart by Trading View

While the cryptocurrency had approached a high across the $2.660 level on the 29th of May, the EOSUSD pair gradually moved below the $2.600 level as it approached the 30th of May. The downtrend exhibited a retracement observed by the trading pair, while it followed a bullish trend towards the $2.700 level on the 30th of May. The cryptocurrency reached a day’s high of $2.717 US Dollars.

At the time of the bullish momentum, the Relative Strength Index (RSI) moved above the 60.00 level and stayed bullish during the price rally observed by the cryptocurrency. At the time of writing, the RSI was observed at 59.12.

As per the charts, the 20-Day Exponential Moving Average (20EMA) closed at $2.693, and the 50-Day Moving Average (50MA) met the closure for the daily trade, at $2.688. At the time of writing, the EOSUSD pair traded at $2.689 US Dollars.

EOS: long towards $3.620?

Big_Mike716 had highlighted an upward channel for the EOSUSD pair. The idea suggests that the cryptocurrency should see a long trading movement towards the $3.620 level before returning below the $3.00 mark.

EOS Price Featured ChartEOS Price Chart by Trading View

On the 22nd of May, EOS traded near the $2.500 level. As of now, the cryptocurrency appears bullish with a trading value above the $2.700 level. As of now, this idea appears to be in play. However, it will take time to complete if it does.

Disclaimer: The information provided is not trading advice but an informative analysis of the price movement. Cryptopolitan.com holds no liability towards any investments based on the information provided on this page. 

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