EOS–USD daily chart.

EOS–USD daily chart.

Gate Trade EOS Saturday, April 4, 2020 691 0

EOS broke above the overhead resistance at $2.4001 on April 2 but the bulls could not sustain the breakout. The price dipped back below the breakout level. Currently, the bulls are making another attempt to push the price above $2.4001.

EOS–USD daily chart. Source: Tradingview​​​​​​​

EOS–USD daily chart. Source: Tradingview

If successful, the EOS/USD pair is likely to pick up momentum and move up to the 50-day SMA at $3.08 and above it to $3.86. Therefore, the traders can buy as suggested by us in an earlier analysis.

Conversely, if the pair turns down from $2.4001, it is likely to extend its stay inside the range. The pair will turn negative on a break below $2.0632.