EOS Technical Analysis: Buyers Plan To Knock Down 100-day SMA

The EOS price action shows a bullish trend in motion with the help of a Support trendline ready to exceed the 100-day SMA. Key technical points: The EOS prices jumped by 15.12% in the last 24 hours. The Bullish reversal is ready to exceed the 100-day SMA in the daily chart. The 24-hour trading volume of EOS is $447 Million, indicating a hike of 116%. Past Performance of EOS As teased in our previous article, the EOS prices Break above the $1.20 resistance level and head towards the overhead resistance at $1.40. The morning star formed at the support trend line propels the market value by 18% in the last 48 hours to approach the $1.30 mark. Additionally, the bullish trend faces opposition from the 100-day SMA at $1.35. Source- Tradingview EOS Technical Analysis The EOS price chart displays an increase in the buying pressure as the trend continues with a surge in intraday trading volume. Hence the likelihood of an uptrend continuation above the $1.40 resistance level increases over time. As mentioned before, the uptrend has breached the 50-day SMA and approaches the next bearish milestone of the 100-day SMA in the daily chart. Moreover, the opposing SMA breakout will target the 200-day SMA as the next bearish milestone, which shows potential for a 40% uptrend if the buying pressure sustains. The RSI indicator displays an increase in the underlying bullishness as the uptrend continues from 37% to the overbought boundary at 70%. A...