EOS/USD Medium-term Trend: Ranging
Resistance levels: $ 6.0, $6.5, $7.0
Support levels: $5.0, $4.5, $4.0
Yesterday, August 9th, the price of EOS was in a sideways trend. From yesterday’s bearish move, the price of EOS fell to the low of $5.43 and commenced a range bound movement. Price of EOS is fluctuating horizontally between the levels of $5.43 and $5.78. Traders are to exercise patience for the price to come out of those levels before recommending any trades.
Meanwhile, the MACD line and the signal line are below the zero line which indicates a sell signal. In addition, the price of EOS is below the 12-day EMA and the 26-day EMA which indicates that the bearish trend is ongoing. Nevertheless, the Relative Strength Index period 14 is level 31 which indicates that the market is oversold suggesting bulls to take control of the market.
EOS/USD Short-term Trend: Ranging
On the 1-hour chart, the price of EOS is in a bullish trend. The price of EOS is still below the 12-day EMA and the 26-day EMA which indicate that price is falling. Also, the MACD line and the signal line are below the zero line which indicates a sell signal.
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