EOS Price Analysis: Breakout or Further Decline?

EOS price declined this week after tagging the $5.500 resistance area against the US Dollar.The price tested the $4.875 level and it is currently trading in a range above $5.000.There is a crucial breakout pattern forming with resistance near $5.325 on the 4-hours chart of the EOS/USD pair (data feed from Binance).The pair could start a strong upward move if it clears the $5.325 and $5.550 resistance levels.EOS Price AnalysisRecently, there was a sharp rise in bitcoin, but altcoins such as Ethereum, ripple, litecoin and EOS struggled against the US Dollar. Earlier, EOS price tagged the $5.550 resistance level, where it faced a strong selling interest. As a result, there was a downside correction below the $5.300 and $5.100 support levels. The price even cleared the 50% Fib retracement level of the last wave from the $4.611 low to $5.550 high. Finally, there was a spike below the $5.000 support…

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