• On the upside, if the bulls break above the EMAs, the crypto’s price will resume its bullish trend to retest the $7.50 and $8.5 resistance levels.
• On July 16, the downward trend was corrected at the $3.66 price level

EOS/USD Medium-term Trend: Bullish

• Resistance levels: $ 6.50, $7.00, $7.50.
• Support levels: $4.00, $3.50, $3.00.

Yesterday, July 23, the price of EOS was in a bullish trend and it broke the 12-day EMA but was facing resistance at the 26-day EMA. On July 16, after the downward trend correction at the $3.66 price level, the bulls made an upward move to break above the EMAs. The bulls are facing resistance at the 26-day EMA.

On the upside, if the bulls break above the EMAs, the crypto’s price will resume its bullish trend to retest the $7.50 and $8.5 resistance levels. On the other hand, if the bulls fail to break the EMAs, the price will continue to range below the EMAs. Meanwhile, the EOS market is in the oversold region of the daily stochastic but above 40% range. This indicates that price is in a bullish momentum and a buy signal.

EOS/USD Short-term Trend: Bullish

On the 1-hour chart, the price of EOS is in a smooth uptrend. The 12-day EMA and the 26-day EMA are trending northward. On July 24, the bulls made an upward move and reached a high of $4.60 but were resisted. The price retraced to the support of the 12-day EMA to resume its bullish trend.

The market is in the continuation zone of the Fibonacci 0.236 retracement level. Meanwhile, the EOS market is in the overbought region of the daily stochastic but above 60% range. This indicates that price is in a bullish momentum and a buy 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.