EOS Technical Analysis: Retaliating Bulls Hold Support Trendline

EOS prices display a bullish reversal from the support trendline, with increased volume teasing a trend continuation to the $2 mark. The fatal drop in EOS prices bounces back from the support trendline sustaining above the 50-day SMA. Currently, the morning star pattern forming at the trendline shows a bullish follow-through candle teasing a price jump above the psychological mark of $1.50. So, will this trend sustain in these volatile market conditions to reach the $2 mark? Key Points: The EOS prices jump by 11% from the support trendline. The RSI slope resurfaces above the halfway line. With a market cap of $1.51 Billion, the intraday trading volume of EOS has increased by 81.22% to reach $546 Million. Source- TradingView EOS Technical Analysis The EOS prices drop 25% to test the 50-day SMA at $1.35, close to the support trendline with a declining intraday trading volume. However, the bund control at the support trendline with the morning star pattern. The bullish reversal accounts for a price jump of 11 % over the last two days and reclaims the psychological mark of $1.50. Hence, the improving market condition increases the possibility of an uptrend continuation. If the EOS sustains above the psychological mark of $1.50, an uptrend to $2.0 is possible if the buyers overtake $1.75. Conversely, a downfall below the support trendline will result in an increased supply pressure dropping the market price to $1.20. Technical Indi...