EOS broke out of the descending channel on April 05, but the bulls haven’t been able to sustain the breakout. Prices have again fallen back into the channel.
We believe that even above the channel, there will be a hurdle at the 50-day SMA and the last one at $7.28. The coin will become bullish once it clears these overhead resistances.
Among the top cryptocurrencies that we analyze, the EOS/USD pair currently has the best looking charts and the highest probability of starting a new uptrend. Therefore, we recommend a buy at $7.5, keeping a stop loss of $5. Our target objective is a move to $11.