EOS/USD Medium-term Trend: Ranging
Resistance levels: $ 10.0, $10.5, $11.0
Support levels: $9.0, $8.5, $8.0
Yesterday, June 18, price of EOS was in a sideways trend. The asset is ranged bound between the levels of $11.0 and $10.0. Meanwhile, the MACD line and the signal line are neither below nor above the zero line indicating a neutral signal. In addition, the 12-day EMA and 26-day EMA are neither above nor below the price of the asset indicating a neutral signal. The exponential moving averages have not been able to determine the trend because of the price of the asset. Nevertheless, the relative strength index is Level 47 indicates that price is in the range bound zone.
EOS/USD Short-term Trend: Bullish
On the 1-hour chart, price of EOS is in a bullish trend. From the chart, the MACD line and the signal line are above the zero line indicating a buy signal. Also, the price of the asset is above the 12-day EMA and the 26-day EMA indicating that the bullish trend is ongoing. Price of EOS had been stable on the support level of $10. Traders can initiate long trades at the support level of $10 when the asset breaks out of this range bound zone.
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