EOS/USD Medium-term Trend:Ranging

Resistance: $14.0, $14.5, $15.0
Support: $13.0, $12.5, $12.0

Yesterday, price of EOS had been stable and no significant price increase. The EOSUSD pair is still in a range-bound zone; trading between the levels of $15 and $12. The movement of the asset in terms pricing is very stable. The asset is currently trading at $13.84 as at the time of writing.Today, price of EOS has not made any significant movement. The bulls and the bears are undecided about the direction of the market.

The 20-day moving average is above the 50-day moving average indicating that the asset is rising but the price increase is insignificant. However, as a trader, you can adopt a breakout trading with the use of pending orders. As a trader, you can place a buy stop at the resistance level for a bullish breakout. Similarly, you can place a sell stop at the support level for a bearish breakout. You exit these trades immediately after the breakout. Meanwhile, the relative strength index period 14 is level 50 indicates that price of the asset is in the range bound zone.

EOS/USD Short-term Trend:Ranging

On the 1-hour chart, price of EOS is in a sideways trend. Price of the asset is ranging and in a horizontal pattern.

The views and opinions expressed here do not reflect that of and do not constitute financial advice. Always do your own research.

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