EOS: Price Analysis, April 04



EOS continues to trade inside the descending channel. It is currently facing resistance at the 20-day EMA, which is located near the resistance line of the channel.


If the bulls succeed in breaking out of the overhead resistance, we anticipate another major resistance at the 50-day SMA.

The EOS/USD pair will become positive only after it breaks out of $7.25 levels. We retain our existing buy recommendation at $7.5 with a stop loss of $5 and a target objective of $11.

If prices break below $5, a slide to $4 is possible.

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