EOS Technical Analysis: Increased Demand Boosts EOS Prices by 15%

The EOS prices showcase a reversal from the 50-day SMA and the $1 mark resulting in a 20% as the buyers prepare to crack the $1.25 level. Key Technical Points: The EOS prices jumped by 11.35% within the last 72 hours. The market price reverses from the 50-day SMA and attempts to reach the $1.50 mark. The 24-hour trading volume of EOS is $488 million, indicating a hike of 147%. Past Performance of EOS The US price charged displays a consolidation range formed between $0.85 and $1, after the $1.20 fallout in early June. However, the recent bullish reversal breaks above the consolidation range and the 50-day SMA resulting in the formation of a support trendline. The bull run accounts for a 30% price jump in the last ten days and approaches the $1.25 resistance level. Source – Tradingview EOS Technical Analysis Yesterday, the bullish reversal in EOS prices from the support confluence of the 50-Day SMA and the support trendline accounted for a 20% jump. Moreover, the market value sustaining above the 50-day SMA projects a potential uptrend to the next 100-day SMA at $1.5. The RSI and MACD indicator supports the possibility of a bull run to $1.5 as they display an increase in buying pressure. The RSI slope displays a gradual increase over the last two weeks resulting in a spike to the overbought boundary. Moreover, the fast and slow lines in the MACD indicator show an increase in the bullish spread as they maintain an uptrend in pos...