Technical Analysis and Market Entry: EOS/USD Has Room For Greater Upside Momentum As Bulls Make Critical Advance

EOS

The EOS price has managed to regather upside momentum within recent trading, following the heavy selling pressure through the second half of 2019. EOS/USD bottomed out down at the depressed levels of $2.15 on 18 December. The buyers came into effect within this area of demand, $2.50-2.00, which had been supporting the price last year.During the decline of EOS/USD from 31 May 2019, the price lost as much as 75%. It fell from the heights of $8.95 down to $2.15 as noted above. The trend was stubborn to the downside, with any rallies proving to be short-lived. In terms of the market structure, it was producing lower highs and lower lows.Given the most recent bout of upside momentum, EOS/USD has been able to gain as much as 85%. The price is moving back to the highest levels seen since September 2019. A critical technical development to note is that the…

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