Though the RSI is in oversold territory, the bulls could not initiate a recovery in EOS as it continues to trade below the $3.8723 level.
The immediate support is at $3. If the EOS/USD pair bounces off this support, it will face a minor resistance at the downtrend line, above which $3.8723 will act as a major resistance. If the bears plummet prices below $3, the next support is at $2.40. Traders should wait for a trend reversal before attempting to buy it.