EOS chart analysis: EOS / USD sees $ 2.57 amid a bull pennant, gold cross

  • The number 10 coin consolidates before the next higher leg.
  • The technical lineup of EOS / USD favors the bulls.
  • The spot will end the week flat with light trading.

EOS / USD consolidates the overnight rally to $ 2.4980, adding almost 2% so far to trading this Saturday, which was thinned out on bank holidays. The spot extends the recovery until the third straight day as the bulls now pick up pace for the next upward surge. The crypto coin No. 10 remains almost unchanged on course for the weekend. The market cap of EOS / USD is $ 2.29 billion.

Short term technical perspective

EOS / USD hourly chart

The spot is close to a bullish pennant breakout, with an hourly close above 2.4768 likely to confirm the pattern. The bulls will be heading for the pattern target at $ 2.5695.

The bullish momentum in EOS / USD is supported by a gold cross (50 HMA crossing above the 200 period HMA) that can be seen on the hour bars. While the coin is mostly trading major HMAs, the hourly Relative Strength Index (RSI) is flat in positive territory at 66.0.

Alternatively, breaking below rising trendline support at $ 2.4620 will fail the pattern and open doors for a test of the bullish 21-HMA at $ 2.4050. The above level is strong support that could limit retreat in the short term.

In summary, it can be said that the upward trend is even more convincing in view of the bullish technical framework conditions on the aforementioned time horizon.

EOS / USD levels in view

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