EOS Technical Analysis: Bulls Cushion Freefall At $1.20, Should You Buy?

The EOS technical analysis displays a bearish failure to break the $1.20 support level resulting in a retracement to $1.4, teasing a range formation. The EOS price action displays a bearish failure to break below the $1.20 support level leading to a 5% growth with two lower price rejection candles. Moreover, the ongoing recovery phase forecasts a prolonged consolidation in the coming days, between $1.40 and $1.20. But, will the EOS buyers hold their ground during these times of high volatility in the crypto market? Key Points: The EOS prices show a retest phase of $1.40. The bearish crossover possibility increases between the 50 and 100-day EMA. The intraday trading volume in EOS is $445 Million. Source-Tradingview EOS Technical Analysis The EOS price displays the support trendline fallout rally reversing from the $1.20 support level after a downfall of 20%. The lower price rejection candles at $1.20 lead to a morning star pattern and a 5% recovery in attempts to retest the $1.40 mark. With the breakdown of the 50 and 100-day EMA, the falling trend in EMAs teases a bearish crossover. Currently, the candle shows a higher price rejection reflecting a power struggle which may lead to a consolidation range between $1.40 and $1.20. Moreover, the intraday trading volume spike fails to bring any significant price movement, adding points to the sideways trend possibility. If the buying pressure persists, the consolidation can lead to ...