EOS Price Analysis – May 21

  • If the price breaks through the $14 level, itwill reach new highs at $15 and $18.
  • The support level at $12 is a strong one because of the number of times it repelled a breakout.

EOS, EOSUSD, CryptoCompare chart

EOS USD Medium-term Trend: Ranging

Supply levels: $14.5, $14.0, $13.5

Demand levels: $11.5, $12, $12.5   

The EOSUSD pair had a bearish breakout at $16 which resulted in its price falling to $13. During the week, the price of EOS dropped to a low of $12. Now the asset is range bound between the resistance level of $15 and the support level of $12. Last week the bears tested the support level about five times and were unable to break it.

However, that strong support level is a good entry point to place long trades whenever the price gets there. Any breakout at that level would be powerful. The asset is currently trading at $13.21. From the weekly chart, the price of EOS is approaching the resistance level of $15. EOS is currently facing resistance at the $14 mark. If price breaks through it, ot will reach highs of $15 and $18.

EOSUSD Short-term Trend: Ranging   

EOS, EOSUSD, CryptoCompare chart

On the daily chart, the price of EOS is in a range bound movement but has poor action. Trading can be suspended.

 

The views and opinions expressed here do not reflect that of CryptoGlobe.com and do not constitute financial advice. Always do your own research.