EOS has broken out of the descending channel, which points to a waning bearish momentum.

however, it has been facing resistance close to the $8.97 mark for a couple of days.

a break above this level is likely to propel the cryptocurrency higher towards $10 and then to $12.

very short-term traders can initiate a long position in the EOS/USD pair at $9 and keep an SL of $7.5.

still, this is a very risky trade; traders should use only 50% of their usual allocation.