EOS has maintained its upside price movement over the last week, and at the time of penning down this analysis, it was being traded at $2.781. The currency marks a moderate increment over the last seven days. As per the current trend, it may keep the upside movement intact, and it holds strong support around its SMA 50 $2.75.
EOS Price Analysis
EOS coin has reflected a decent journey from $2.5 to $2.8 over the last seven days. Though the downward swings were prominent, the upward momentum has helped the coin to sustain a bullish outlook.
If we look at the price trend of EOS/USD, it was trading around $2.75 yesterday, and over the initial 4 hours and 45 minutes, it faced a moderate plunge, and the price fell to $2.68. From this low, the currency soon got lifted towards $2.752 by 13:00 UTC but rejected from this price point over the next 2 hours. However, at 15:00 UTC, EOS gathered its momentum and started trading upward and managed to touch $2.80 by 02:00 UTC of today. Further, it again faced rejection and corrected down to $2.781.
The current price of EOS is trending above its 20 days MA ($2.775) and 50 days MA ($2.75); Hence, if the currency faced regression and trade downwards then, it might test support at SMA 20 & then, SMA 50. However, as per the current movement, EOS is likely to test the next resistance around $2.80. IN the upcoming days, the coin might continue the current bullish trend, and the $3 mark may be achieved in this period.