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EOS Rate Analysis– May 28

EOS USD Medium-term Trend: Bearish


EOS, EOSUSD, CryptoCompare chart

EOS USD Medium-term Pattern: Bearish

Supply levels: $126, $124, $122.

Need levels: $114, $116, $118.

Recently the rate of EOS had a bearish outlook. The property was variety bound in between the levels of $15 and $12 Nevertheless, the bearish breakout made the rate to be up to the low of $1071 The bearish pattern was presumed to have actually ended becausethe rate of the property broke the bearish pattern line and the candlestick closed on the reverse of the pattern line. Today, the property has actually been up to the low of $1193 at the time of composing.

From the weekly chart, the rate of EOS reached the high of $13 and was up to break the assistance level at $12 The relative strength index duration 14 is level 34 shows that the marketplace is oversold recommending bulls will take control of the marketplace. THe rate of EOS will still rally even at the oversold market condition. In the other words, the rate will be up to the low of $ 10.71 since the bearish pressure is not over.

EOSUSD Short-term Pattern: Bearish

EOS, EOSUSD, CryptoCompare chart

On the day-to-day chart, the rate of EOS remains in a bearish outlook. The rate of the property was variety bound at the rate of $12 The bulls and the bears remained in strong contention up until the bears took the rate to the low of $114. Although the rate of the property is varying, it is presumed the property is most likely to be up to the previous low if the bears are still in control.

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Written by Ravi Gupat

Ravi grew up in India and graduated in Economics. He is a serial entrepreneur who has founded and exited several companies in tech and media over the past 15 years. He is also an early stage investor and advisor in various blockchain-based companies.

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