EOS/USD Medium-term Trend: Ranging
Resistance levels: $ 9.0, $9.5, $10.0
Support levels: $8.0, $7.5, $7.0
Last week, price of EOS was in a sideways trend. The EOS/USD pair was fluctuating between the resistance level at $9.5 and the support level at $6.9. Presently, the market is quiet and the cryptocurrency is trading in a horizontal pattern. However, if price gets to the resistance level, you initiate a short trade and place a stop loss above the resistance level. Then you exit your short trades near the support zone.
Also, if price gets to the support level, you initiate a long trade and place a stop loss below the support level. You exit your long trades near the resistance zone. However, the MACD line and the signal line are neither above nor below the zero line which indicates a neutral signal. Also, the price bars of Litecoin is neither above nor below the 12-day EMA and the 26-day EMA which indicates that price is in a sideways trend. Nevertheless, the relative strength index period 14 is level 44 which indicates that price of Litecoin is in the sideways 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.