EOS: Price Analysis, April 06

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EOS/USD

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.




EOS/USD




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.

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