EOS price has propelled by 10% and now is one of the top gainers over the 24 hours. This has pushed the coin quite close to its next price resistance. The bulls were back on the 24 hour chart and that depicted positive price action for the coin. Despite Bitcoin falling on the chart and other major altcoins moving south EOS noted a considerable surge in price. EOS price also depicts a broad wedge pattern, this pattern is often tied to exhaustion of a trend. In this case, EOS price was reversing its previous bearish price momentum. Technical outlook on the chart pointed towards bullish price action gaining strength. Buying strength on the 24 hour chart were substantially high. In case buying strength holds its ground, a move to the immediate resistance becomes easy for the altcoin. Price of EOS needs to trade above its current price action for the coin to move and witness another possible rally. EOS Price Analysis: One Day Chart The altcoin was trading at $1.70 at the time of writing. It secured double digit gains over the last 24 hours as the bulls surfaced. The coin has also formed a broad wedge pattern which meant that EOS’s previous bearish price thesis would be discontinued. The overhead resistance for the coin stood at $1.90 and a move above that level will push EOS to $2. In case the sellers resurface in the market, the local support level for the coin awaited at $0.90. The amount of EOS traded over the last trading...
