EOS (EOS) was in the process of forming an equilibrium pattern on the daily chart but the bulls have been able to break out of it before confirmation. The last high was set at $3.424 and EOS is now up 5.7% on the day to $3.65.
Prior to the recent breakout, the bulls were able to hold the 12-period EMA four times in a row and the bearish volume had been declining every day. The bulls are now looking for more continuation after surpassing the remaining resistance level at $3.575.
The 4-hour chart is now clearly in favor of the bulls which have seen a nice volume increase over the past 24 hours.
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Disclaimer: This article is for informational purposes only and should not be taken as investment advice. Always conduct your own due diligence before making investments.