EOS has been the strongest one among the top cryptocurrencies. It is trading well above its March 18 lows and is close to the 20-day EMA.
If it breaks out of the descending channel and the 50-day SMA, we believe it will start a new uptrend. Therefore, we recommend a long position on the EOS/USD pair at $7.5. The stop loss can be kept at $5 and the target objective is $11.
Our bullish view will be invalidated if the price declines and stays below $5.