• On the upside, if the $3.60 support level holds, the crypto’s price will rise and break above the EMAs.
• On the downside, if the bears break the $3.60 support level, the coin will further depreciate to a low at $3.0 price level.

EOS/USD Medium-term Trend: Bearish

• Resistance levels: $ 6.50, $7.00, $7.50.
• Support levels: $5.00, $4.50, $4.00.

Yesterday, July 16, the price of EOS was in a bearish trend. The EOS market fell to the previous low of March 8. Yesterday, the market fell to the low of $3.60 price level and the support level was  holding. On the upside, if the $3.60 support level holds, the crypto’s price will rise and break above the EMAs.

On the downside, if the bears break the $3.60 support level, the coin will further depreciate to a low at $3.0 price level. Meanwhile, the price of the EOS market is in the oversold region of the daily stochastic but below 20% range. This indicates that price is in a bearish momentum and a sell signal.

EOS/USD Short-term Trend: Bearish

On the 1-hour chart, the price of EOS is in a bearish trend. The 12-day EMA and the 26-day EMA are sloping southwardly. On July 16, the bears broke the EMAs and price fell to a low at $3.60 price level.

The $3.60 support level was holding as the bulls made an upward move above the EMAs. Meanwhile, the price of the EOS market is in the overbought region of the daily stochastic but below 80% 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.