EOS/USD Medium-term Trend: Ranging
Resistance levels: $ 7.5, $8.0, $8.5
Support levels: $7.0, $6.5, $6.0
Yesterday, July 31, the price of EOS was in a bearish trend. The bearish movement has no effect on the price movement. The cryptocurrency is still in its range bound zone. The price of EOS did not reach the previous lows of the digital currency. The cryptocurrency is currently trading at $7.2 as at the time of trading.
Meanwhile, the MACD line and the signal line are below the zero line which indicates a sell signal. Similarly, the price of EOS is below the 12-day EMA and the 26-day EMA which indicates that a bearish trend is ongoing. Nevertheless, the relative strength index period 14 is level 24 which indicate that the market is oversold suggesting bulls to take control of the market.
EOS/USD Short-term Trend: Bearish
On the 1-hour chart, the price of EOS is in a downward trend. 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.
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