EOSUSDT Stays Subdued

The majority of cryptocurrencies have remained influenced by Bitcoin’s movements. This has been reflected in the EOSUSDT market as well, as its price action shows very little movement. The coin has only seen a small price increase of 3.17%. Meanwhile, the token still appears largely subdued.

EOS Statistics:
Current EOS Price: $0.4994
EOS Market Cap: $756,728,814
EOS Circulating Supply: 2,100,000,000 EOS
Total Supply of EOS: 2,100,000,000 EOS
EOS CoinMarketCap Rank: 79

Key Price Levels:
Resistance: $0.5100, $0.5200, $0.5300
Support: $0.4900, $0.4800, $0.4700

Upside Forces in the EOS Market Challenge the Resistance at the $0.5062 Mark

Since the previous session, the EOSUSDT market has rebounded minimally. The ongoing session has seen slightly increased momentum compared to the previous session.

Nevertheless, price activity remains below the middle limit of the Bollinger Bands (BB) indicator, and the trajectory of the BB indicator seems slightly upward. Meanwhile, the Stochastic Relative Strength Index (Stochastic RSI) indicator lines still have a general downward trajectory. This further underscores the small price increase seen in the ongoing session. 

EOSUSDT Market Stays Consistent with the Location of Price Action

As stated above, price activity in the EOS market has remained below the middle limit of the BB indicator, from the daily to the 4-hour market. Additionally, the last price candle has presented a minimal retracement below this mark, hinting at the vulnerability of the current price move.

At the same time, the Stochastic RSI lines can be seen rising steeply upwards into the overbought region with such a small price increase. Technically, this reveals that the upward price movement may be very weak and could easily fall back toward support. Therefore, traders may still use crypto signals with targets at the $0.4700 price level, as the upward retracement could reverse.

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