EOS/USD Medium-term Trend: Bearish

Resistance levels: $ 6, $7, $8.
Support levels: $3, $2, $1.

Yesterday, November 20, the price of EOS was in a bearish trend. Since November 8, the price of EOS was resisted by the 12-day EMA and the crypto’s price had remained under the bearish trend zone. The recent resistance by the 12-day EMA was on the  19th of November where a bearish candlestick was resisted.

On November 19, the price fell to the low of $4.03 to commence a range movement . Later it was resisted. On November 20, the price fell to the low of $3.72 and commenced a range bound movement to the EMAs. If the downward trend will continue, the price will be resisted by the 12-day EMA. On the other hand, the price will resume an uptrend movement by breaking the 12-day EMA and the 26-day EMA.

EOS/USD Short-term Trend: Bearish

On the 1-hour chart, the price of EOS is in a bearish trend. The digital currency is fluctuating below and above the 12-day EMA and the 26-day EMA. Meanwhile, the crypto’s price is now below the 12-day EMA and the 26-day EMA indicating 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.

(Excerpt) Read more Here | 2018-11-21 07:30:36
Image credit: source

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