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.

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 | 2018-11-12 06:46:24
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