EOS (EOS)

EOS Price Prediction: Long-term (EOS) Value Forecast – July 6

Azeez Mustapha
July 7, 2019

On the upside, if the bulls break above the EMAs, the crypto’s price will rise to retest the $7.50 price level.
On the downside, if the bulls fail to break the EMAs, the price of EOS will continue its range bound move below the EMAs.

EOS/USD Long-term Trend: Bearish

Resistance Levels: $8.0, $8.5, $9.0
Support levels: $ 7.0, $ 6.5, $6.0

The EOS/USD pair is in a bearish trend. The price of EOS was facing two overhead resistances. On May 31, the bulls tested the $8.50 overhead resistance. The bulls were resisted and the EOS market was on a downward correction to a low at $6.2 price level. The bulls pulled above the EMAs to face the second resistance level at $7.50 price level.

The EOS market was on a downward correction to a low at $5.50 price level. At the $5.50 support level, the coin was below 12-day EMA and the 26-day EMA. The crypto’s price is now ranging below the EMAs. On the upside, if the bulls break above the EMAs, the crypto’s price will rise to retest the $7.50 price level.

On the downside, if the bulls fail to break the EMAs, the price of EOS will continue its range bound move below the EMAs. Meanwhile, the EOS market is at the oversold region of the daily stochastic but below the 20% range. This indicates that price is in a bearish momentum and a sell signal.

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

Azeez Mustapha

Azeez began his FinTech career path in 2008 after growing interest and intrigue about market wizards and how they managed to become victorious on the battlefield of the financial world. After a decade of learning, reading and training the ins and outs of the industry, he’s now a sought after trading professional, technical/currency analyst and funds manager - as well as an author.