The EOS share price is stagnant on the weekly chart on Monday. The news of the request to halt the trading is the biggest announcement that impacts the chart. At the time of writing, the EOS price is around $4.8. This is around 29% below the 52 week high of $14.9.
Besides that, the downgrade of companies’ earnings is another cause of frozen price moments. Moreover, other news, such as significant contract payment and fundraising for SpaceLInk Corporation, have played a vital role in the last couple of weeks.
It can remain halted until the next announcements on or after October 27, 2021. Though you cannot expect more on the technical chart, let’s dive into the technical chart of EOS.
EOS has a strong support level of $2.38, which it may not break in this month. Though after the announcement, it may go upward and ruin the initial resistance level of $6.4. However, it may be highly volatile in the next week. The only positive is RIS, which is 51 and shows a good trend ahead.
On the MACD chart, the blue line may cross the red line, and it is also showing a positive trend, though till now, it is neutral. The moving average line is going downward, but it does not truly signify any trend. Bollinger Band, MACD, and Moving average all reflect neutral charts in the last couple of weeks.
Moreover, it is a good time to buy for the long term because the currency can give you good returns, and it gave a good return many times in the past. For the long-term view, the chart is at the support level, so it is a good opportunity to buy more coins.
However, the EOS may be volatile in the next couple of weeks, so the price can quickly change. That is why you need to observe the chart very cautiously.
