EOS/USD Medium-term Trend: Bullish
Resistance levels: $ 9.5, $10.0, $10.5
Support levels: $8.0, $7.5, $7.0
Yesterday, July 3, price of EOS was in a bullish trend. Also, a trend line was drawn to determine support levels in anticipation of a bullish market. The understanding was that if price retraced from the recent high and tested the trend line, a long trade should be initiated.From the 4-hour chart, the price of EOS has tested the trend line.
Traders can initiate long trades at this point in time with the understanding that the bullish trend will continue. However, the MACD line and the signal are above the zero line which indicates a buy signal.Also, the price bars of EOS is above 12-day EMA and the 26-day EMA which indicates that the bullish trend is continuing. Nevertheless, the relative strength index period 14 is level 57 which indicates that price of EOS is in the sideways trend zone.
EOS/USD Short-term Trend: Bearish
On the 1-hour chart, the price of EOS is in a bearish trend. The MACD line and the signal are below the zero line which indicates a buy signal. The 12-day EMA and the 26-day EMA are above the price bars of ECOS indicating a bearish trend.
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