EOS/USD Medium-term Trend: Bearish
Resistance levels: $ 6, $7, $8.
Support levels: $5, $4, $3.
Last week the price of EOS was in a bullish trend. On November 4, the digital currency commenced a bullish movement to the high of $5.79. The crypto’s price faced resistance at the $6 price level. On November 7, the digital currency was resisted and the price fell to the low of $5.30.
The crypto’s price had already made a bullish movement out of the support zone. Price is above the exponential moving average and it is likely to rise. Traders are to initiate long trades in anticipation of a bullish trend. Meanwhile, the price is above the 12-day EMA and the 26-day EMA indicating that price is in the bullish trend zone. Nevertheless, the MACD line and the signal line are above the zero line which indicates a buy signal.
EOS/USD Short-term Trend: Bullish
On the 1-hour chart, the price of EOS is in a bullish trend. The MACD line and the signal line are above the zero line which indicates a buy signal. The price is above the 12-day EMA and the 26-day EMA which indicates that price is in the bullish trend zone.
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