EOS/USD Medium-term Trend: Bearish
Resistance levels: $ 6.5, $7.0, $7.5
Support levels: $5.5, $5.0, $4.5
Yesterday, August 7th, the price of EOS was in a sideways trend. The price of EOS had been in a sideways trend at a price of $7.1 before the bearish breakout. The bears took price to the low of $ 6.1 and it was the previous high of April 3, 2018. If the bearish trend continues, the price of EOS may reach the previous low of $4.1.
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 18 which indicates that the market is oversold suggesting bulls to take control of price.
EOS/USD Short-term Trend: Bearish
On the 1-hour chart, the price of EOS is in a bearish trend. The price of EOS is below the 12-day EMA and the 26-day EMA which indicate that price is EOS is falling. Also, the MACD line and the signal line are below the zero line which indicates a sell signal.
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