We wanted to buy EOS once it broke out of the descending channel but that did not happen. After staying above the 20-day EMA for the past five days, prices have slipped this week.
The EOS/USD pair has some support at the $5.84 mark. Below that, it can slide to $5 levels.
On the upside, even if the bulls manage to push prices above the 20-day EMA, they will again face a stiff resistance at the 50-day SMA.