EOS: Price Analysis, July 16



EOS has bounced off the $6.55 levels and has reached the downtrend line. The 20-day EMA is also located just above the moving average. We expect strong resistance by the bears at this level.


If the bulls break out of this, we might see a move to $9.4456, where the EOS/USD pair will again face strong selling pressure.

We propose long positions once the digital currency sustains above $9.4456 levels. The pattern target of this trade is $11.9986. If the bulls scale above this, a rally to $15 is likely.

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