EOS: Price Analysis, August 27

4

EOS/USD

The bulls have held EOS above $4.50 for the past 10 days, but have been unable to break out of the 20-day EMA.




EOS/USD




The zone between the 20-day EMA and $5.65 might offer stiff resistance, above which a rally to the 50-day SMA is probable.

We will turn positive on the EOS/USD pair after the bulls close (UTC time frame) above the 50-day SMA. As an early entry point, we might suggest initiating a small position if the bulls break out of $5.65 with force. Until then, we suggest to stay on the sidelines.

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