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EOS Price Analysis: The EOS Token Is Growing Steadily As It Attempts to Stay Above the 200-Day Moving Average

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  • EOS token is trading on a bullish note and trying to recover from lower levels while striving to sustain above 200-day moving average line
  • The coin is trying to sustaining above vital moving averages of 200-DMA, but the volume falls below the average line and needs to improve.
  • The pair of EOS/BTC is trading on a bullish note with an intraday jump of +3.85%, standing at 0.0001312 BTC; whereas, a ratio of EOS/BTC is at 0.002039 ETH up by +3.34%. 
Source:tradingview

EOS coin is a cryptocurrency token and blockchain that supports smart contracts. Block. one in 2017, this coin was initially developed to enable developers to build decentralized applications on its platform. 

The EOS Token has been gradually rising in recent days and is now trying to stay above the 200-day moving average. The token’s price was hovering around $5 with a good volume increment in the last 24-hours of +35%, standing at $1,370,148,491. This trend might be a sign that the cryptocurrency will continue its upward momentum for some time yet. Volume needs to improve as it falls below the average line, and the closing of day candles above 200 and 20-DMA will boost the bull’s confidence. 

Source:tradingview

EOS coin over the weekly chart has given a positive breakout from the falling trend line, but the volume is near the average line. Similarly, if the coin sustains above 200 and 20-DMA will give fuel to bulls for another lap of bullish momentum. Presently, the EOS token is trading at $5.26 with intraday gains of +3.84%, and the volume to market cap ratio stands at 0.2703. Support on the lower side is at $4.60 and $4.00; whereas, resistance on the higher side is $6.20 and $7.65. 

Relative Strength Index (BULLISH): EOS token RSI is presently projecting bullish momentum, gradually heading towards the overbought region over the weekly chart. At the same time, trading at 62 levels.  

Moving Average Convergence Divergence (BULLISH): Currently projecting a positive trend over the weekly chart. The MACD shows the buyer’s signal line (green) is overpowering the seller’s line (red).  

Support levels: $4.60 and $4.00

Resistance levels: $6.20 and $7.65.