EOS price rises above $3.1, what’s next?

EOS price rises above $3.1, what’s next?

On the 3rd of August, the EOS price line made its way past the $3.1 mark. The cryptocurrency traded within the day’s range of $2.915 to $3.128.

1-Day EOS price analysis

EOS price chart 1 - 3 August

EOS price chart by Trading View

For the day’s highest, EOS was observed at $3.128. At the time of writing, EOS traded at $3.057 US Dollars.

What’s next for EOS price?

The Trading View analyst Hossein Masih highlighted a bat pattern for the EOSUSD pair on its 1-Week chart.

EOS price chart 2 - 3 August

EOS price chart by Trading View

The analyst expects the cryptocurrency to complete the bat pattern, for which the EOSUSD pair will move towards the first target price that lies at the $4.08 mark. The second target price for this trade was marked at $5.60.

Currently, the cryptocurrency trades near the $2.99 level. If the idea comes into play, EOS will move past the $4 mark, after which EOS may rise to $5.60.

Will EOS rise above $5?

The Trading View analyst Wind Surfer has highlighted an ascending parallel channel for the EOSUSD pair and they are of the opinion that the cryptocurrency will rise towards the $4.5 mark.

EOS price chart 3 - 3 August

EOS price chart by Trading View

The ascending parallel channel in the chart above can be seen starting from the 12th of March, 2020. The cryptocurrency’s price has moved below the midpoint of the trading channel, while it is expected to make its way past the pivot point and towards the $4.5 level.

The first target price for this trade is at $4.5, and the second price target lies at $5.65.

Disclaimer: The information provided is not trading advice but an informative analysis of the price movement.

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