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    EOS price analysis: below key trigger level

    By Nathan Batchelor

    13:20, 23 September 2020

    EOS price analysis

    EOS has fallen to its lowest trading level since July 2020, as the top cryptocurrencies are dragged lower by risk-off sentiment and a drop in the value of Bitcoin.

    EOS technical analysis shows that bearish breakouts on the lower and higher time frames are currently underway.

    EOS/USD medium-term price trend

    EOS has fallen to a multi-month trading level, as the technicals surrounding the cryptocurrency appear increasingly bearish. 

    EOS price analysis shows that the cryptocurrency has fallen below a large triangle pattern and is vulnerable to further technical selling.

    The daily time frame highlights that a breakout below a symmetrical triangle pattern is valid while the price trades under $2.80.

    Technical analysis shows that the bearish breakout has been in play since September 13, with the EOS/USD pair unable to recover back inside the triangle since then.

    The size of the pattern suggests that the EOS/USD pair could decline towards $1.50 over the medium term.

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    ETH/USD

    3,079.46 Price
    +0.220% 1D Chg, %
    Long position overnight fee -0.0616%
    Short position overnight fee 0.0137%
    Overnight fee time 21:00 (UTC)
    Spread 6.00

    US100

    17,004.20 Price
    -2.130% 1D Chg, %
    Long position overnight fee -0.0262%
    Short position overnight fee 0.0040%
    Overnight fee time 21:00 (UTC)
    Spread 1.8

    BTC/USD

    64,261.00 Price
    +1.040% 1D Chg, %
    Long position overnight fee -0.0616%
    Short position overnight fee 0.0137%
    Overnight fee time 21:00 (UTC)
    Spread 106.00

    XRP/USD

    0.51 Price
    +0.500% 1D Chg, %
    Long position overnight fee -0.0753%
    Short position overnight fee 0.0069%
    Overnight fee time 21:00 (UTC)
    Spread 0.01168

    EOS/USD short-term price trend

    EOS/USD price analysis shows that the cryptocurrency is heavily bearish over the short term while the price trades below $2.80.

    The four-hour time frame shows that a bearish head-and-shoulders pattern breakout is now in play.

    According to the size of the bearish pattern, the EOS/USD pair could fall towards $1.80 over the short term.

    Traders should note that key upcoming technical support for the EOS/USD pair is found at the $2.30 and $2.00 levels. 

    The $1.50 and $1.30 levels offer the strongest form of technical support below $1.80.

    EOS/USD technical summary

    EOS/USD technical analysis shows that bearish pattern breakouts are in play across various time frames and project upcoming losses below $2.

    Markets in this article

    EOS/USD
    EOS / USD
    0.7910 USD
    0.0249 +3.280%

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