• On the upside, if the bulls break above the EMAs, the crypto’s price will rise to retest the $7.50 price level.
• On June 4, a downward correction was made at the price of $6.29 support level.

EOS/USD Medium-term Trend: Bearish

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

Yesterday, June 26, the price of EOS was retracing from the $7.50 resistance level. The downward correction has already been concluded on June 27 at the price of $5.88. This was the previous low of May 22. In retrospect, On June 1, the bulls were resisted at the $8.50 overhead resistance.

On June 4, a downward correction was made at the price of $6.29 support level. This support level was held as the bulls pulled back price above the EMAs. At the bullish trend zone, the crypto’s price was resisted at the $7.50 price level. Then the EOS market had another downward correction to the $5.88 price level.

On the upside, if the bulls break above the EMAs, the crypto’s price will rise to retest the $7.50 price level. Meanwhile, the EOS market is at the overbought region of the daily stochastic but below the 80% 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 was in a bearish trend zone. The crypto’s price is above the 12-day EMA and the 26-day EMA which suggest that price is likely to rise. Today, the bulls make an upward move but were resisted at the $7.40 price level. Meanwhile, the EOS market is at 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.