EOS expects an upside price surge but its move is largely dependent on a break above $7.12. Compound, on the other hand, could revisit $331 in case of a collapse from the current support level.
EOS price analysis
ADX is down to 14 while EOS has entered a consolidation phase after a break above $7.12 was rejected by market sellers. Bollinger Bands confirmed low volatility in the market as the upper band and lower band ranged between $5.61 and $7.17. However, this upper ceiling has been a key resistance point for EOS as it triggered a 66% increase in the first week of May.
A breakout could lead us to a similar conclusion, but the bulls will need to topple a few resistance zones along the way. The most obvious ones are $8.87 and $9.8.
Compound (COMP) price analysis
Over the past 24 hours, COMP has been ranked 50th on CoinMarketCap with a market cap of just over $2 billion, while Compound’s losses have been minimal at 1.7%. On the 4-hour chart, selling pressure was evident as COMP tried to break below the $392 support. A crash could cause COMP to revisit $331, where the addition of the demand zone would counter a prolonged sell-off.
The RSI has been in neutral territory for the past few days but has dropped below 40 as the bears take control of the market. The dotted marks of the Parabolic SAR were above the candlesticks as there was a downtrend at the time of this writing.