EOS/BIT Long-term Trend: Bearish

Supply Zone: 1560.00 1570.00,  1580.00
Demand Zone: 1540.00, 1530.00, 1520.20

EOS/BIT pair is presently in a bearish trend. However, the asset had been fluctuating from the resistance level at 1878.93 to the support level at 1531.93. Traders who are in such sideways trend should adopt a range bound market strategy to trade the ranging market. That is, at the resistance level, you place a short trade and exit your trade at the support zone . Then if the price gets to the support level you place a long trade and exit your trade near the resistance zone.

Nevertheless, the relative strength index period 14 is level 42 indicates that price of the asset is in the range bound zone. The 12-day EMA and the 26-day EMA are neither above nor below the price of the asset which gives us a neutral signal. The MACD line and the signal line are at par with the zero line.

The views and opinions expressed here do not reflect that of BitcoinExhangeGuide.com and do not constitute financial advice. Always do your own research.

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