EOS Price Analysis – May 31

Azeez Mustapha
  • $12.30 was the previous resistance level on 25, 27 and 28 May, which compelled EOS to a range-bound movement.
  • The asset fluctuates between $12.50 and $11.50.

EOS, EOSUSD, CryptoCompare chart

EOSUSD Medium-term Trend: Ranging

Supply levels: $12.5, $12.4, $12.3

Demand levels: $11.9, $12.0, $12.1

Yesterday, 30 May, the EOS price was in a bullish market. The asset had a bullish breakout at $12 and was assumed that the asset might reach $15, but would face resistance at $14. EOS was trading at $12.23 at the time of writing. However, the weekly chart shows that EOS has not been able to reach $15 because it was resisted at $12.30.

$12.30 was the previous resistance level on 25, 27 and 28 May. This forms a strong resistance for the asset. The asset is now range-bound between $12.50 and $11.50. Meanwhile, the relative strength index period 14 is level 70, indicating that the market is overbought and suggesting that the bears will take control of the market.

EOSUSD Short-term Trend: Ranging

EOS, EOSUSD, CryptoCompare chart

The daily chart shows EOS price in a ranging market. EOS was in a range bound movement at $11.80. Later, it made a bullish movement to $12.30, then it resumed its range bound movement.

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