EOS Struggles to Regain a $6 High

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On Mar 26, the price of EOS began a gradual uptrend. A high of $6.09 was reached on Apr 3. After a gradual decrease, a slightly higher high was reached on Apr 11.

The price has steadily fallen from the $6 level. the Lows near $5 have been. However, at the time of writing, prices appeared to be moving toward $5.50.



Will EOS rise back up to $6 or fall back down to $5?

Let’s find out:

EOS (EOS): Trends And Highlights For April 12, 2019
- The price of EOS began an uptrend on Mar 26.
- EOS/USD reached a high of $6.11 on Apr 10.
- Currently, EOS appears to be trading inside an ascending channel.
- Bullish divergence is developing in the RSI.
- There is resistance near $5.65.

Tracing the Current Trading Pattern
The price of EOS on Binance was analyzed at six-hour intervals from Mar 26 to Apr 12 to trace the current trading pattern.
On Mar 26, the price made a low of $3.64. Since then, it has been increasing, creating several higher lows.

Tracing these lows gives us an ascending support line:



On Apr 3, the price reached an hourly high of $5.56. Several market cycles have been completed and the price has made several higher highs.

Tracing these highs gives us an ascending resistance line.

The resistance and support lines combine to create an ascending channel:


It is likely that the price will keep trading inside the confines of this channel until a decisive move occurs. In order to figure out the direction of the move, we need to look at technical indicators.

RSI Divergence
The price of EOS on Binance was analyzed at two-hour intervals from Apr 8 to Apr 12 alongside the relative strength index to determine possible future price movements.

Combining RSI bullish/bearish divergence with support/resistance essentially predicts price fluctuations. RSI is shown in the chart below the ascending channel:



Future Movement
In this section, we incorporate resistance areas into the analysis to determine possible future price levels.

These are shown in the chart below:


Summary of Analysis
Based on our analysis, it is likely that the price of EOS will increase and reach the resistance area. Price may not reach $6 in the near future, but it should exceed $5.50 at least for a moment.

source: https://beincrypto.com/bitcoins-push-to-retake-5000-a-new-trend-or-nothing-special/

[Rex]

Nearly at $6 and EOS begin to drop again, just a little more if the market is better, anyway I still looking forward for EOS to increase more

[Stalky]

EOS in a few days until now there is also a good price increase compared to last month, because I believe EOS prices will also recover soon in the future, because the growth in bitcoin prices is also starting to show a good trend this month

[trauchot]

The cryptocurrency market is trying to gradually recover, but at this pace it can take several years, but EOS is rapidly gaining momentum and by the end of the year we should see exactly 6$.

[Bobcrypto]

Yes, EOS is still developing and with many upgrades on the platform plus it's community, i thinkk it will greatly enhance it potential. I believe that there are possibilities of Eos improving better than the current prices analysis from march to April.

[jonathancool220]

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Your hope is that for EOS it is very big, but I think that the increase in EOS prices is still a long time to show on various exchanges.
I think EOS also needs full power to change the price, Dev is too silent and doesn't have much movement for this on the market.