- EOS/USD is moving within a triangle pattern ready for breakthrough.
- Flash crash was caused by speculative orders.
EOS/USD is changing hands at $3.77, mostly unchanged both on a day-on-day basis and since the beginning of Thursday trading. The fifth largest digital asset with a market capitalization of $3.38B and an average daily trading volume of $1.4B has gained nearly 47% in recent three months, however, it is still 44% down on a year-on-year basis.
On the intraday level, EOS/USD is moving within a narrowing triangle pattern with the boundaries at $3.80 and $3.75. A sustainable breakthrough in either direction will create a strong momentum on the market with the nearest upside target at $3.92 (March 16 high) and psychological $4.00. On the downside, the bears will focus at $3.65 (SMA200, 4-hour) and $3,48 (March 12 low).
EOS/UD experienced a mini-version of flash-crash when the price collapsed to $3.60 in a matter of minutes and swiftly returned to $3.80. The see-saw movement was caused by a large speculative order of a technical anomaly.
EOS/USD, 1-hour chart