EOS Drops After Breakout From Long-Term Resistance

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In Brief
  • EOS has failed to sustain a breakout above a long-term descending resistance line.

  • There is long-term support at $2.30.

  • Daily technical indicators are bullish.

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Even though the EOS price broke out from a long-term descending resistance line, the price has fallen back below it since. Despite this drop, EOS' bullish formation remains intact. Long-Term Deviation The EOS price had been following a descending resistance line since May 2019. The price broke out from this line in July 2020 and reached a high of $3.65 on August 16. However, the price
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Valdrin discovered cryptocurrencies while he was getting his MSc in Financial Markets from the Barcelona graduate school of Economics. Shortly after graduating, he began writing for several different cryptocurrency related websites as a freelancer before eventually taking on the role of BeInCrypto's Senior Analyst.

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