EOS/USD Medium-term Trend: Bearish
Resistance levels: $ 10.0, $10.5, $11.0
Support levels: $9.0, $8.5, $8.0
Yesterday, June 13, the price of EOS fell to the low of $9.44. The asset has fallen to the low of $10.74 in the previous day. From the 4-hour chart, the MACD line and the signal line are below the zero line indicating a sell signal. In addition, the 12-day EMA and the 26-day EMA are above the price bars of EOS indicating that the downtrend of the asset would continue.
If the downtrend continued the demands levels would be breached. However, if the bearish pressure continued, traders should look for buy setups along the price at $7 or $5 to initiate long trades. The relative strength index period 14 is level 38 indicates that the market is nearing the oversold condition.
EOS/USD Short-term Trend: Bearish
On the 1-hour chart, price of EOS is in a bearish trend. The price of EOS is bearish as the MACD line and the signal line are below the zero line indicating a sell signal. Also, the 12-day EMA and 26-day EMA are neither above nor below the price bars of the asset indicating that the signal is neutral .
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