EOS/USD

EOS/USD

Gate Trade EOS Thursday, April 9, 2020 399 0

EOS is facing resistance at the 50-day SMA ($2.87), which is sloping down. The bears will try to sink the price back below the recent breakout level of $2.4001. If successful, a drop to $2.0632 is possible.

 

However, if the EOS/USD pair rebounds off $2.4001, it will signal buying on dips and will increase the possibility of a breakout of the 50-day SMA.

Above this resistance, a move to $3.1802, followed by a rally to $3.86 is likely. Therefore, the traders can keep the stop loss on the long positions at $2.