EOS/USD Medium-term Trend: Bearish
Resistance levels: $ 7.5, $8.0, $8.5
Support levels: $7.0, $6.5, $6.0
Yesterday, July 9, price of EOS was in a sideways trend. The cryptocurrency was fluctuating between the levels of $9.5 and $6.9 and price fell to the low of $ 7.3. According to yesterday’s analysis, if the support level at $6.9 holds, traders should initiate long trades.
Meanwhile, the MACD line and the signal line are below the zero line which indicates a sell signal. Also, the 12-day EMA and the 26-day EMA are above the price bars of EOS which indicates that the bearish trend is ongoing. Nevertheless, the relative strength index period 14 is level 21 which indicates 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 serious bearish trend. The MACD line and the signal line are below the zero line which indicates a sell signal. In the short term trend, the 12-day EMA and the 26-day EMA are above the price bars of EOS which indicates that the bearish trend is continuing.
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