EOS/USDT Stays Afloat Could Continue Climbing

The EOS token has experienced notable price growth today, placing it in the second spot on the list of top crypto movers. At the time of writing, the token is still holding onto an 8.90% gain. Price action in this market appears well-positioned for further increases.

EOS Statistics

Current Price: $0.6516

Market Capitalization: $1.02B

Circulating Supply: —

Total Supply: 2.1B

CoinMarketCap Rank: 3,256

Key Price Levels

Resistance: $0.7000, $0.7500, $0.8000

Support: $0.6500, $0.6000, $0.5500

EOS Pumps but Faces Moderate Rejection

The current daily session for EOS has shown significant upward momentum. Despite some downward rejection, the token trades above the 9-day Exponential Moving Average (EMA). However, the upper shadow on the corresponding price candle indicates a moderate rejection from higher levels.

Meanwhile, the Moving Average Convergence Divergence (MACD) lines converge for an upward crossover below the equilibrium level. This development suggests the potential for continued upward price movement.

EOS Remains Poised to Breach the $0.7000 Barrier

On the EOS/USDT 4-hour chart, price movement appears clearer. The latest candle is bearish but has formed above the 9-day EMA, which technically signals that bullish momentum remains strong.

Additionally, the MACD lines are rising steeply from below the equilibrium level. The lead MACD line has already crossed above the equilibrium point, with the lagging line following closely behind.

Furthermore, the MACD histogram bars remain solid green and positioned above the equilibrium level. These indicators suggest that the bullish retracement is still in progress and may extend toward the $0.7500 resistance level.

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