EOS/USD Medium-term Trend: Ranging

Resistance: $ 14.0, $14.5, $15.0
Support: $12.0, $11.5, $11.0

Yesterday, June 7, price of EOS was in a sideways trend. The asset has not made any significant movement in terms of trading. Price of the asset is still fluctuating from the resistance level at $15 to support level at $12. Meanwhile, the asset is currently trading at $13.71 as at the time of writing.However, from the chart, price of EOS reached the high of $14.74 and immediately price had a pullback to the low of $13.73.

The asset has commenced a bullish movement. In order to trade this asset, we ought to make use of the critical levels. However, when price gets to the resistance zone, you place a short trade and a stop loss above the resistance level. You exit that trade as price test the support zone. Similarly, when price gets to the support level, you place a long trade and a stop loss below the support level. Then you exit that trade at the resistance zone. Meanwhile, the relative strength index period 14 is level 49 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 BitcoinExhangeGuide.com and do not constitute financial advice. Always do your own research.

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