LiquidEOS-Brings-New-vRAM-Solution-for-EOS-Data-Storage-to-Lower-Costs
  • From the price action, the market price is now below the 12-day EMA and the 26-day EMA which indicates that price is likely to fall.
  • On the downside, if the bearish trend continues, the market will further depreciate to a low at $5.0 price level.

EOS/USD Medium-term Trend: Bearish

  • Resistance levels: $ 6.60, $6.80, $7.0.
  • Support levels: $6.0, $5.8, $5.60.

Yesterday, May 22, the price of EOS was in a sideways trend. The sideways trend was as a result of the $6.40 resistance level  the crypto is currently facing. Yesterday, the bulls tested the $6.40 resistance level and the price fell to the support of EMAs. However, the bears broke the EMAs and price fell to the previous low at $5.91.

From the price action, the market price is now below the 12-day EMA and the 26-day EMA which indicates that price is likely to fall. On the downside, if the bearish trend continues, the market will further depreciate to a low at $5.0 price level.

On the upside, if the $5.91 price level is holding, the bulls will take the next upward move to break the EMAs and reach the bullish trend zone. Meanwhile, the market is at the oversold region of the daily stochastic but below 40% 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 sideways trend zone. The 12-day EMA and the 26-day EMA were trending as a horizontal line. The bulls were resisted at the $6.30 price level on four occasions as it made an attempt to break the resistance level.

On the fourth times, the price fell and the bears broke the EMAs to a low at $5.91. The price fell to its previous low at 5.91. Meanwhile, the market is at the oversold region of the daily stochastic but below 40% 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.

(Excerpt) Read more Here | 2019-05-23 05:42:00
Image credit: source

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