EOS (EOS) Closes Last Hour Up $0.01; Eyes 20 Day Average, Price Base in Formation Over Past 30 Days, Heads Down For the 4th Consecutive Day

The Hourly View for EOS

Last Updated October 16, 2020, 01:037 GMT

At the time of this writing, EOS’s price is up $0.01 (0.27%) from the hour prior. This is the 3rd hour in a row EOS has seen its price head up. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 100 hour timeframe. Regarding moving averages, it should first be noted that price has crossed the 20 hour moving average, resulting in them with price now being above it. The moving averages on the hourly timeframe suggest a bullishness in price, as the 20, 50, 100 and 200 are all in a bullish alignment — meaning the shorter durations are above the longer duration averages, implying a sound upward trend.

EOS Daily Price Recap

EOS closed the day prior down 0.46% ($0.012); this denotes the 4th consecutive day it has gone down. The change in price came along side change in volume that was up 65.59% from previous day, but down 65.2% from the Thursday of last week. Relative to other instruments in the Top Cryptos asset class, EOS ranked 5th since the day prior in terms of percentage price change. Here is a daily price chart of EOS.

EOS

EOS Technical Analysis

The first thing we should note is that EOS is now close to its 20, 50 and 200 day moving averages, which may act as price barrier for the asset. Price action traders in particular will want to note that the 30 day period appears to show price forming a base; this could indicate that a support/resistance level is developing. Or to view things another way, note that out of the past 30 days EOS’s price has gone down 16 them.