EOS Price PredictionThis was a show of strength. Coins resilient during a BTC dump, or the ones that are quick to recover, are generally strong coins for buyers and could outperform a good chunk of the other mid-cap coins. Apart from relative strength, technical reasons were also observed for EOS’s recent performance.The Visible Range Volume Profile showed the Point of Control at $1.26. The Value Area High and Low sit at $1.3 and $1.
In yellow, a range was plotted for the asset that extended from $1.1 to $1.31, with the mid-range mark at $1.2. The range values are quite close to the values highlighted by the VPVR tool, which reinforced their significance. On the 4-hour chart, the RSI stood at 50 and has been above the neutral 50 mark since 28 February. This highlighted some bullish momentum in this period, and the trading volume was high relative to the preceding weeks.Is your portfolio green? Check theMoreover, the market structure remained bullish on the daily timeframe, despite the volatility on H4. Furthermore, the price filled an imbalance on the charts from the recent pump. This imbalance sat right atop a support level.
This meant long positions were likely closed during the dump but the short sellers did not enter the market en masse, as that would have seen a rise in OI. Therefore, the buyers have some room to shift things in their favor.Subscribe to get it daily in your inbox.
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