EOS (EOS) Price Near $2.54; Moves Down For the 5th Consecutive Day, Price Base in Formation Over Past 30 Days, Breaks Below 20 Day Average

The Hourly View for EOS

Last Updated October 17, 2020, 01:037 GMT

At the moment, EOS’s price is up $0.01 (0.2%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved down. Regarding the trend, note that the strongest trend exists on the 50 hour timeframe. Of note is that the 20 hour changed directions on EOS; it is now pointing up. 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 2.35% ($0.061); this denotes the 5th consecutive day a decline has happened. As for how volume fared, yesterday’s volume was up 26.3% from the previous day (Thursday), and up 23.79% from Friday of the week before. Out of the 7 instruments in the Top Cryptos asset class, EOS ended up ranking 3rd for the day in terms of price change relative to the day prior. Here is a daily price chart of EOS.

EOS

EOS Technical Analysis

Moving average crossovers are always interesting, so let’s start there: EOS crossed below its 20 day moving average yesterday. The clearest trend exists on the 90 day timeframe, which shows price moving down over that time. 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. For another vantage point, consider that EOS’s price has gone down 17 of the previous 30 trading days.