EOS ANALYSIS EOS/USDT EOS broke above the $5.60 overhead resistance on April 1 and closed at $6.25 on April 2, its highest close since June 29, 2019. This shows that the altcoin is once again generating interest among investors. The bears dragged the price back below the breakout level of $5.60 on April 3, but the positive sign is that the bulls have not allowed the bears to assert their dominance. They have again pushed the price back above $5.60. If buyers can sustain the price above $5.60 for three days, it will suggest the start of a new uptrend. The EOS/USDT pair is likely to pick up momentum after the bulls propel the price above $6.50. If they can do that, the pair could rally to $7.64 and then $8.69. The 20-day EMA ($4.68) has started to turn up and the RSI is in the positive territory, indicating the bulls have the upper hand. The 4-hour chart shows the bears attempted to trap the bulls when they pulled the price back below the 20-EMA and $5.40. However, the buyers did not give up and they successfully defended the $5.20 level. This shows the bulls are buying on dips. The 20-EMA has started to turn up and the RSI is in the positive zone, suggesting advantage to the bulls. If they can sustain the price above $5.60, the possibility of a breakout of $6.48 increases. Contrary to this assumption, if the price turns down and breaks below $5.20, it will suggest that the breakout above $5.60 was a bull trap. Let's keep pumping the market guys Guys Stay Bullish, Stay Humble, Stay Put #eos #eoscoin #eoscoins #eoscoinmarketcap https://www.instagram.com/p/CNQ7LfegeRR/?igshid=sv98klzykmy5
