EOS/USD Medium-term Trend: Bullish
Resistance: $ 14.5, $15.0, $15.5
Support: $13.5, $13, $12.5
The EOS/USD pair had been ranged bound for several days at a price of $12. The asset was ranging between the levels of $12.50 and $11.50. However, on June 2, the asset had a bullish breakout that took the asset to the high of $14.35. If the asset breaks the resistance level at $14, price will reach the high of $15. Meanwhile, the relative strength index period 14 is level 61 indicates that price is in the bullish trend zone. Price of the asset is expected to rise if the bulls hold on to price.
EOS/USD Short-term Trend: Ranging
On the 1-hour chart, price of EOS is in a range bound market. The asset was ranged bound while at a price of $12 for several days. later it rose to the high of $14 to commence another range bound movement. In order to trade this asset in a range bound market, we need to adopt the usage of pending orders. The asset is currently ranging between the
support level of $14 and the resistance level at $18. Traders may place a buy stop at the resistance level, then a stop loss above the resistance level. Also, place a sell stop at the support level, then a stop loss below the support level.
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