EOS/USD Medium-term Trend: Bearish
Resistance levels: $ 6, $7, $8.
Support levels: $4, $3, $2.
Yesterday, November 14, the price of EOS was in a bearish trend. The crypto’s price was resisted by the 12-day EMA and price fell to the low of $4.65. The bearish breakout broke the lower level of price range which is the $5 price level. The digital currency is now in the oversold region of the the market and price is consolidating at the $4.50 price level.
Traders are to look out for a buy setups in order to initiate long trades. This will afford them to earn partial profits the moment the digital currency commences bullish trend. Meanwhile, the price is below the 12-day EMA and 26-day EMA indicating that price is in the bearish trend zone. Nevertheless, the MACD line and the signal line are below the zero line which indicates a sell signal.
EOS/USD Short-term Trend: Bearish
On the 1-hour chart, the price of EOS is in a bearish trend. The crypto’s price fell to the low of $4.66 and commenced a range bound movement. Meanwhile, the MACD line and the signal line are below the zero line which indicates a sell signal. The price is below the 12-day EMA and the 26-day EMA which indicates that price is in the bearish 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.