EOS: Price Analysis, April 04

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EOS/USD

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.




EOS/USD

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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