We were expecting the tight range on EOS to resolve on the upside, but our assumption has been proven wrong. The bears forced a breakdown of the range, which led to a sharp fall that has carried the digital currency to the critical support at $6.8926.
If the EOS/USD pair sustains below $6.89, it can slide to $5.961. If this level also breaks, the next support is at $5.1801.
On the upside, the digital currency will gain strength if it breaks out and sustains above the 20-day EMA and the downtrend line. We shall suggest a long position once it scales above $9.5.