EOS/USD Medium-term Trend: Bearish
Resistance levels: $ 6, $7, $8.
Support levels: $5, $4, $3.
Yesterday, October 11, the price of EOS was in a bearish trend. The digital currency also fell to the low of $5.09. There is an indication that EOS is likely to fall again. If it falls, it may fall to its previous low at $4.69. On the other hand, EOS is likely to rise because the $5 price level was previously the lower level of price range.
Since the price of EOS is likely to revert back to the upper level of price range, traders can initiate long trades on the ground that price is holding. Exit your long trades at the upper level of price range. Meanwhile, the MACD line and the signal line are below the zero line which indicates a sell signal. In addition, the price of EOS is below the 12-day EMA and the 26-day EMA which indicates that price is falling.
EOS/USD Short-term Trend: Bullish
On the 1-hour chart, the price of EOS is in a bullish trend. The digital currency fell to the low of $5.08 and commenced a bullish movement. The price of EOS is below the 12-day EMA and the 26-day EMA which indicates that price is falling.
The views and opinions expressed here do not reflect that of BitcoinExchangeGuide.com and do not constitute financial advice. Always do your own research.