EOS seems to be neutral on Monday as the currency pair has no clear direction. EOS has lost more than four percent in the past 24 hours. We have readjusted the trend line to make it appropriate to the current situation.
EOS has almost reached the resistance area at $9.03 during the weekend but later the currency pair declined towards the ascending trend line. It stays in the middle of the horizontal channel in the moment of writing. We think that EOS is going to stop declining there and after meeting the ascending tend line, the currency pair is likely to resume its growth. EOS/USD’s first target is at $9.03. If bulls are able to drive the currency pair higher, EOS is likely to reach the next resistance at $9.56. As for the alternative scenario, we think that according to the current situation, bears have the same chances to push EOS downwards. The closest support area is at $8.29. As for targets, they may be even lower at the next support area at $7.65.