For the past three days, EOS has been trading between $5.1 and $6.2. The 20-day EMA has been acting as a stiff resistance.
Once the EOS/USD pair breaks out of the 20-day EMA, the resistance line of the descending channel, and the 50-day SMA, it will become positive.
Hence, we have been recommending to buy the digital currency at $7.5, with a stop loss of $5. The target objective is a rally to $11.
Our bullish view will be invalidated if the virtual currency breaks below $5 and slides to $4 levels.