Will EOS Escape From Consolidation Phase?

EOS price prediction highlights the fall of EOS crypto inside a horizontal range-bound area over the daily time frame chart. Meanwhile, buyers need to accumulate at a higher rate in order to push EOS upwards. However, EOS tried to break out of the consolidation phase but failed multiple times as buyers lost confidence and sellers pulled EOS back inside the range. 

EOS cryptocurrency has been trading below $0.65 level since August 2023 and has been consolidating since then. Buyers tried to push EOS upwards but failed to maintain the accumulation rate which led EOS downwards. Investors in EOS cryptocurrency need to wait for any directional change over the daily time frame chart. 

EOS price was at $0.5806 and lost 0.72% of its market capitalization during the day’s trading session. Trading volume has declined by 4.45% intraday. This demonstrates that sellers are present in the trade, trying to pull EOS towards the lower price range of the consolidation phase. Volume to market cap ratio was at 14.52%.

Will EOS Price Rebound Now? 

EOS price prediction highlights the fall of EOS crypto inside the consolidation phase over the daily time frame chart. Moreover, EOS crypto may revert back towards the upper price range of the consolidation phase as it gets support from the lower price range. However, volume change can be seen below average and needs to grow in favor of buyers. Meanwhile, EOS is currently trying to sustain at 20-EMA to move towards 50, 100 and 200-days daily moving average.

EOS crypto price gained 3.15% in a week while decreased by 0.26% in a month. Moreover, EOS price slipped by 19.71% in the last three months and 52.47% in the last six months. In addition, EOS cryptocurrency price fell by 32.66% year to date. 

Technical indicators highlight the downside trend of EOS crypto. Relative strength index (RSI) shows the decline of EOS crypto price. RSI was at 49 and is leaving neutrality to be oversold. Investors in EOS cryptocurrency need to wait for any directional change over the daily time frame chart.

Summary  

EOS price prediction indicates the fall of EOS crypto inside a horizontal range-bound area over the daily time frame chart. Buyers tried to push EOS upwards but failed to maintain the accumulation rate pushing EOS downwards. However, volume change was below average and needs to grow in favor of buyers. In addition, EOS cryptocurrency price is down 32.66% year to date. Technical indicators suggest a downtrend on the EOS crypto chart.

Technical Levels

Support Levels: $0.5590 and $0.5509

Resistance Levels: $0.5861 and $0.5930

Disclaimer

The views and opinions stated by the author, or any people named in this article, are for informational purposes only, and they do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss.           

Steve Anderrson
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