Chief Analyst at RoboForex: EOS either retraced to $7.32, or broke to $8.52

According to The Merkle, Dmitriy Gurkovskiy, principal analyst at RoboForex, said that the upward trend in EOS continues. In the four-hour period, the price rose and broke through the previous 50% Fibonacci extension line, which is $8.52. At the same time, MACD is deviating, which indicates that there will be a retracement. Once the price reaches 8.52 US dollars, there will be a possibility of retreating to the support level of 7.32 US dollars. If this price falls below this support, it will further fall to 5.44 US dollars. This is the previous Ascending channel support. The stoch indicator forms a sell signal in the overbought area, which may indicate that the price may reach $7.32. However, after testing the resistance above, the price may also rise to $8.52. Overall, EOS performed well this year.