EOS/USD Medium-term Trend: Bearish
Resistance levels: $ 6, $7, $8.
Support levels: $5.0, $4, $3.
Yesterday, October 10, the price of EOS was in a bearish trend. The cryptocurrency has been falling in the last 48 hours after the resistance at $6 price level. Today, EOS has further depreciated in the current bearish trend. The digital currency is approaching the price at $ 5.42 and it is likely to reach the previous low of $5.
However, long trades are recommended as price reach the oversold region of the market . 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 price is falling.
EOS/USD Short-term Trend: Bearish
On the 1-hour chart, the price of EOS is in a bearish trend. The bearish trend has changed to a sideways trend at the price of $5.40. The price of EOS is below the 12-day EMA and the 26-day EMA which indicates that price is falling. Nevertheless, the Relative Strength Index period 14 is level 17 which indicates that the market is oversold signaling bear's exhaustion and suggesting bulls to take control of the market.
The views and opinions expressed here do not reflect that of BitcoinExchangeGuide.com and do not constitute financial advice. Always do your own research.