EOS/USD Medium-term Trend: Bearish
Resistance levels: $ 8.0, $8.5, $9.0
Support levels: $7.0, $6.5, $6.0
Last week, the EOS/USD pair was in a sideways and bearish trends. While in a sideways trend, the Bollinger Bands contracts, because the market was quiet. But in a bearish trend, the Bollinger Bands expands, because price made a significant downward movement. The cryptoasset fell to its all-time low at $7.14.
Meanwhile, the MACD line and the signal line are below the zero line which indicates a sell signal. Also, the 12-day EMA and the 26-day EMA are above the price bars of EOS which indicates that the bearish trend is ongoing. However, the relative strength index is Level 36 which indicates that the market is oversold suggesting bulls to take control of the market.
EOS/USD Short-term Trend: Bullish
On the 1-hour chart, price of EOS is in a bullish trend. Meanwhile, the MACD line and the signal line are above the zero line which indicates a buy signal. Also, the price bars of EOS are above the 12-day EMA and 26-day EMA which indicates that the bullish trend is ongoing.
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