EOS/USD Medium-term Trend: Ranging

Resistance levels: $10.0, $10.5, $11.0
Support levels: $9.0, $8.5, $8.0

Yesterday, June 21, price of EOS was in a sideways trend. The cryptoasset traded and closed at the price of $10.38. From the 4-hour chart, the MACD line and the signal line are neither below nor above the zero line indicating a neutral signal.

In addition, the price of EOS is neither above nor below the 12-day EMA and the 26-day EMA indicating a sideways trend. Meanwhile, the relative strength index is Level 26 which  indicates that the market is oversold suggesting bulls to take control of the market.

EOS/USD Short-term Trend: Bearish

On the 1-hour chart, price of EOS is in a bearish trend. In the shorter time frame, the MACD line and the signal line are below the zero line indicating a sell signal. In addition, price of EOS is below the 12-day EMA and the 26-day EMA indicating that a bearish trend is ongoing.

However, bearish candlesticks had touched the lower band of the Bollinger Bands. The principle is that if price touches the first low of the Bollinger Band, it is a buy signal. Again, if price touches another low of the Bollinger Bands, it is now a confirmation of the buy order.

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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