EOS could retreat to $ 5.75 if the break above $ 8 is rejected. Looking to the XMR side, an impressive bull run pushed Monero 30%. The next move is eagerly awaited.
EOS price analysis
The Fibonacci broker highlighted a key buy zone for EOS at the 78.6% ($ 5.75) Fib level. On the 4-hour chart, EOS recorded some upward movement, but has yet to regain the 61.8% level ($ 7.07). This is also a region that overlaps the 20-SMA (red). However, a larger test for the bulls lies at the 50% retracement level ($ 8.0) close to the 200-SMA. A successful break could result in a 20% increase towards the $ 10 level. The price may drop to $ 5.75 as a result of sellers refusal, but this may create an opportunity for traders.
The bullish trend in the MACD has generated some optimism, but the volumes do not yet appear to be sufficient to support a breakout. Capital inflow to EOS seems healthy, as CMF keeps itself on balance.
Monero (XMR) price analysis
After Monero dropped to its low of $ 200 in late February, a strong return was recorded in the market. At the time of this writing, XMR is trading at $ 132, up 30% in the past 24 hours. Now above the 20-SMA, XMR could rise to its next target of $ 374.6 due to bullish sentiment. Overall, the projected jump will represent 83% gain from the $ 200 support.
With the increase in purchases, the volumes in the stock markets closed at $ 1 billion. OBV’s slight uptrend showed that the buying pressure has outstripped the selling pressure in the last few sessions. The Awesome Oscillator saw movement above the half-line as there was strong momentum on the bullish side.