EOS Gets a lot of Continuation with a Strong Daily Uptrend

September 15, 2019 By: Lorenzo Stroe

We talked about how EOS took the lead when the rest of the cryptos were still trading sideways. EOS bulls have now certainly confirmed the uptrend with a huge candlestick of around 8% going from $3.69 to $4.11 in just 1 day.

EOS had a really healthy consolidation with bulls buying all the small dips and the EMA’s crossing bullish yesterday. The bear volume was also dropping and the RSI is not even overextended yet.

The 4-Hour chart is clearly showing a Bull flag at this point, again, really healthy and the bulls will look to confirm it within the next few days, possibly tomorrow, although we could see further downside since the RSI on the 4-Hour chart is a bit overextended.

Similarly, the Hourly chart is in a bull flag and the bulls seem to have lost a bit of momentum there as EOS is now trading below the 12-Day EMA but still holding the 26 one.

The weekly chart has changed a little bit more now as the bulls are actually trying to break above the resistance of $4.57 and $4.77, something that wasn’t too likely before but it is now. The next resistance for the bulls is the Weekly 12-Day EMA at $4.27, if they can break above this level, they will be set for the rest of the year, most likely.

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