EOS/USD Medium-term Trend: Bearish
Resistance: $11.5, $12.0, $12.5
Support: $10.5, $10.0, $9.5
Last week, the EOS/USD pair was in a bullish trend. Price of EOS was very stable, but the asset rose from the low of $13.70 to the high of $14.12 . The price increase was insignificant as the asset ended the week on a sideways trend. It was suggested that since the asset is in a sideways trend, traders should trade the ranging market with a range bound strategy. Meanwhile, the asset is currently trading at $11.07 as at the time of writing.
Today, price of EOS has fallen to the low of $10.74. The asset is now out of the range-bound levels of $15 and $12. The relative strength index period 14 is level 30 indicates that the market is oversold suggesting bulls to take control of the market. Traders ought to look for buy setups to initiate long traders as the market is oversold.
EOS/USD Short-term Trend: Bearish
On the 1-hour chart, price of EOS is in a bearish trend. However, the asset fell to the low of $10.12 but the EOS/USD pair has commenced a bullish movement.
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