EOS Trades Directionless; Cements Stability Around $2.60

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• EOS trades at $2.60 and forms the major support at $2.49
• The current trading price area lacks support from the short-term moving averages and trades with immense selling pressure
• The current price trend of EOS/USD has been consolidating below $2.8 since past 10 days now
• The EOS price has been sliding down slowly as it records a plunge of over 7% in the past seven days, having fallen from $2.82 to $2.60

EOS, just like any other altcoin, is consolidating a slow downtrend with a stable price yet declining price movement. With this, the major resistance is set at $2.865 price, while the support lies at $2.4. The bearishness that is prevailing hints at an upcoming fall.

As observed from the daily movement of EOS to USD on Coinbase, the coin has slid from trading at the height of $8.959 to current bottoming out at $2.60. The downward slide has been on a roar for many altcoins in the global crypto market, thereby leading to inactive supports and dense selling pressure.

EOS Price Prediction

Analyzing the 3-hourly movement of EOS coin over the past one month, we see that the coin has been on a downswing since the third trading week of the previous month and currently consolidating with a stable movement. The highest price point in this 30-day time frame has been at $3.669, and the lowest is marked at $2.347. The current selling pressure is quite dense as the coin is moving ‘directionless.’

Technical Indicators

The current price trend is below the major Moving Averages, i.e., 9-day, 49-day, and 200-day. The MACD of the EOS coin is running below zero but holds slight bullish crossover as the MACD line cuts the Signal line.

The RSI is at 36.51, showing no extremities and confirming the slight bullish crossover of the MACD line.