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Price Analysis of EOS: The coin is about to experience a positive break in the market

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The native token of EOSIO network- EOS coin, ranks in the 8th position according to the stats of Coinmarketcap. The price of EOS at the press time was $3.2806 and its market cap was around $3 billion. A major chunk of EOS was coming from CoinBene, contributing to a total of $82 million via the EOS / USDT trade pair.

1 Hour Chart

1 hour price analysis of EOS
Source: EOS / USD TradingView

The one hour chart shows an uptrend extending from $2.5451 to $3.1974 and a downtrend from $3.5345 to $3.3930. The resistance stood at $3.3812 and the support was held at $3.1890.

Bollinger bands after traveling parallelly for some time, it began to converge indicating that the coin started to become less volatile.

The Awesome Oscillator indicates the coin is slowly making its way into the bullish market.

Relative Strength Index: The RSI line seemed to be hitting the 50-line indicating neutrality between the pressures of buyers and sellers.

1 Day Chart

1 hour analysis of EOS
Source: EOS / USD TradingView

The one hour chart showed an uptrend extending from $3.3013 to $5.5688 and a downtrend extending from $8.5888 to $3.4945. The support was held at $2.6247 and the resistance stood at $3.7894.

Parabolic SAR: The dotted line seemed to be going upwards indicating a bullish behavior exhibited the coin.

Chaikin Money Flow: The CMF line seemed to be slightly above the zero line pushing the coin to the bullish market.

The MACD line was slightly above the signal line which means that the coin was facing a bullish sentiment.

Conclusion

The Awesome Oscillator in the short term chart and all the indicators in the long term charts indicated that the coin was experiencing a bullish sentiment.

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