The EOS technical analysis displays a bearish failure to break the $1.20 support level resulting in a retracement to $1.4, teasing a range formation.

The EOS price action displays a bearish failure to break below the $1.20 support level leading to a 5% growth with two lower price rejection candles. Moreover, the ongoing recovery phase forecasts a prolonged consolidation in the coming days, between $1.40 and $1.20. But, will the EOS buyers hold their ground during these times of high volatility in the crypto market? 
<h3>Key Points:</h3>
<ul>
 	<li style="font-weight: 400;">The EOS prices show a retest phase of $1.40. </li>
 	<li style="font-weight: 400;">The bearish crossover possibility increases between the 50 and 100-day EMA.</li>
 	<li style="font-weight: 400;">The intraday trading volume in EOS is $445 Million.</li>
</ul>
<img class="alignnone" src="https://s3.tradingview.com/snapshots/j/J0TJQJqV.png" alt="EOS Price Chart" width="1834" height="869" />

Source-<a href="https://www.tradingview.com/x/J0TJQJqV/">Tradingview</a>
<h2>EOS Technical Analysis</h2>
The EOS price displays the support trendline fallout rally reversing from the $1.20 support level after a downfall of 20%. The lower price rejection candles at $1.20 lead to a morning star pattern and a 5% recovery in attempts to retest the $1.40 mark. 

With the breakdown of the 50 and 100-day EMA, the falling trend in EMAs teases a bearish crossover. 

Currently, the candle shows a higher price rejection reflecting a power struggle which may lead to a consolidation range between $1.40 and $1.20. Moreover, the intraday trading volume spike fails to bring any significant price movement, adding points to the sideways trend possibility. 

If the buying pressure persists, the consolidation can lead to a bullish breakout resulting in a jump to the $1.58 mark. 

However, if this theory fails, the prices may dump below $1.20 and extend the prevailing correction in EOS to $1. 
<h2>Technical Indicator </h2>
The downsloping RSI slope reflects a bearish reign spreading over the EOS coin. Moreover, a sufficient gap between the MACD and signal lines indicates sustained selling activity in the market. 

Therefore, the technical indicators oppose the price action analysis and forecast a downtrend.   

Resistance levels- $1.40 and $1.58

Support levels-  $1.20 and $1

EOS Technical Analysis: Bulls Cushion Freefall At $1.20, Should You Buy?

The EOS technical analysis displays a bearish failure to break the $1.20 support level resulting in a retracement to $1.4, teasing a range formation.

Vikram is a technical analyst with several years of experience in the crypto market &amp; Indian Equity and F&amp;O Segment. He loves to learn anything and everything related to finance. He possesses strong technical and analytical skills, which he leverages to acquaint our audience with upcoming price trends for different coins.

EOS Technical Analysis: Bulls Cushion Freefall At $1.20, Should You Buy?

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