EOS/USD Medium-term Trend: Bearish
Resistance levels: $ 6, $7, $8.
Support levels: $3, $2, $1.
Yesterday, December 6, the price of EOS was in a bearish trend. On December 5, the crypto's price fell to the low of $2.22 and commenced a range bound movement. On December 6, the bears resumed its downtrend and price was approaching the low of $ 1.71.
Meanwhile, the price of EOS is below the 12-day EMA and the 26-day EMA indicating that price is likely to fall. Also, the MACD line and the signal line are below the zero line which indicates a sell signal.
EOS/USD Short-term Trend: Bearish
On the 1-hour chart, the price of EOS is in a bearish trend. On December 6, the crypto's price was resisted by the 12-day EMA and price fell to the low of $1.70 and it commenced a range bound movement. Meanwhile, the Stochastic indicator is in the range below 20% which indicates that EOS has strong bearish momentum and a sell signal.
The crypto's price is likely to continue its fall as long as the stochastic bands are below the 20% range. Also, the price of EOS is below the 12-day EMA and the 26-day EMA indicating that price is likely to fall.
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