EOS/USD Medium-term Trend: Ranging
Resistance levels: $ 5.0, $5.5, $6.0
Support levels: $4.5, $4.0, $3.5
Yesterday, September 13, the price of EOS was in a bullish trend. The cryptocurrency broke the upper level of the previous price range and reached the high of $5.54. It faces resistance at the $5.0 price level which made the price to close at $5.41.
This implies that the cryptocurrency is out of the range-bound zone. Today, the price is making a bullish movement above the $5.0 price level. The $5.0 price level is now a support level and if this level holds trades can be initiated. Price is expected to fluctuate between the levels of $5.5 and $5.0.
Meanwhile, the MACD line and the signal line are above the zero line which indicates a buy signal. In addition, the price of EOS is above the 12-day EMA and the 26-day EMA which indicates that the price is in a bullish trend. Nevertheless, the Relative Strength Index period 14 is level 50 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 bullish 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.
The views and opinions expressed here do not reflect that of BitcoinExchangeGuide.com and do not constitute financial advice. Always do your own research.