EOS/USD Medium-term Trend: Ranging
Resistance levels: $ 6.0, $6.5, $7. 0
Support levels: $4.5, $4.0, $3.5
Yesterday, September 11, the price of EOS was in a sideways trend. The price of EOS has fallen into the previous range bound zone. The digital asset fluctuates between the levels of $5.0 and $4.0. In a ranging market, traders are expected to trade the key levels of the market in order to make partials profits. Stop loss orders are put in place to manage sudden price breakouts. Presently, the price of EOS is falling at a price of $4.90 in the range bound zone which is at the resistance level.
If we take a short trade at the resistance level then we exit at the support level and vice versa. 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 price is in the bearish trend. Nevertheless, the Relative Strength Index period 14 is level 41 which indicates that the price is in the sideways trend zone.
EOS/USD Short-term Trend: Ranging
On the 1-hour chart, the price of EOS is in a sideways trend. On the chart, the price of EOS is below the 12-day EMA and the 26-day EMA which indicates that the price is in the bearish trend.
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