EOS Price Prediction Today: Daily (EOS) Value Forecast – July 8


  • The crypto’s price was in a downward correction to the low of $6.29.
  • The price of EOS is facing resistance at the $6.00 price level.

EOS/USD Medium-term Trend: Bearish

  • Resistance levels: $ 6.50, $7.00, $7.50.
  • Support levels: $5.50, $5.00, $4.50.

Last week the price of EOS was trading below the 12-day EMA and the 26-day EMA. The crypto’s price has been depreciated after the resistance at the $8.50 overhead resistance level. The crypto’s price was in a downward correction to the low of $6.29. At the support of $6.29, the bulls pulled above the EMAs to reach the bullish trend zone. At the bullish trend zone, the bulls were resisted at $7.50 price level. The EOS market fell to the low at $5.88 and resumed a range bound move below 12-day EMA and the 26-day EMA.

The price of EOS is below the EMAs which indicates that the crypto’s price is likely to further depreciate. However, if the bulls break above the EMAs, the crypto’s price will retest the $7.5 resistance level. The coin will continue its range bound move if the bulls fail to break above the bulls. 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: Ranging

On the 1-hour chart, the price of EOS is in a sideways trend. The 12-day EMA and the 26-day EMA are sloping horizontally. The price of EOS is facing resistance at the $6.00 price level. Yesterday, the bulls tested the $6.05 resistance level and were resisted.

Each time the bulls tested the resistance level, the price would fall to the support of the EMAs. Meanwhile, the price of 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.

 

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

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