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EOS/USD Medium-term Trend: Bullish

Resistance levels: $ 9.5, $10.0, $10.5
Support levels: $8.5, $8.0, $7.5

Yesterday, July 4, price of EOS was in a bullish trend. we used trend line yesterday to determine the support levels to enable us  initiate long trades at the support level. Now as long as the bullish trend is continuing the trend line will still be useful. If the bearish candlestick retraces, it will fall to test the trend line. This will be an opportunity for the traders to initiate another long trades. Another way of trading is to buy low and sell high.

Then the bullish candlestick will move higher highs to reach other price levels. However, the MACD line and the signal line 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 61 which indicates that price of EOS is in the bullish trend zone.

EOS/USD Short-term Trend: Bullish

On the 1-hour chart, the price of EOS is in a bullish trend. The MACD line and the signal line are above the zero line which indicates a buy signal. In the short term trend, the price bars of EOS is above the 12-day EMA and the 26-day EMA which indicates that the bullish trend is continuing.

The views and opinions expressed here do not reflect that of BitcoinExchangeGuide.com and do not constitute financial advice. Always do your own research.

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