EOS price analysis: EOS

EOS price broke above the resistance at $14.00 during the session on Sunday 20, albeit the crypto is presently correcting lower on the day. EOS/USD is trading at $13.87 while the 61.8% Fibo supporting the price at $13.80. On the other mitt, EOS price is forming a rising wedge pattern with the upside limited at $14.15, but the major resistance is at $14.50.

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EOSIO software should be launched on June Two, albeit the testing of EOSIO Dawn Four.0 is still ongoing on GitHub. The software is being developed privately by a company called Block.one. The fresh toneel will permit EOS tokens to be transferred from Ethereum to EOS own blockchain, Besides, the blockchain will permit others te the community to use the toneel to launch their dApps. Ter other news, the latest EOS airdrop, eosDAC (EOSD) has bot listed on South Korea&rsquo,s largest cryptocurrency exchange Bithumb. This listing has bot welcome with open arms by the community and is expected to cause a spike of the token.

EOS price maintained an uptrend trading high highs and higher lows. The cryptocurrency seems to have lost momentum spil the week starts but is gearing up for another upside breakout ahead of the mainnet launch. A short-term support has bot formed by the 61.8% Fib retracement level with the previous sway high of $14.92 and a low of $11.98. The ascending trend line on the 1-hour chart will also provide support. Other support zones are highlighted at $13.Five and $13.00 respectively.

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