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EOS/USD Medium-term Trend: Ranging
Resistance levels: $ 6, $7, $8.
Support levels: $5, $4, $3.
Last week the price of EOS was in a bullish trend. The digital currency had a price rally which reached the high of $6.10 but pulled back to the low of $5.59. The crypto’s price further depreciated to the low of $5.32 and it commenced a bullish movement. The EOS price is likely to reach the $6 price level which is the upper price level. The digital currency will face resistance at the $6 price level.
The crypto's price fluctuates between the levels of $5 and $6 in the range bound zone. Nevertheless, the MACD line and the signal line are above the zero line which indicates a buy signal. In addition, the price of EOS is above the 12-day EMA and the 26-day EMA which indicates that price is rising.
EOS/USD Short-term Trend: Ranging
On the 1-hour chart, the price of EOS is in a sideways trend. The crypto’s price is neither below nor above the 12-day EMA and the 26-day EMA which indicates that price is rising. In the same vein, the MACD line and the signal line are above the zero line which indicates a buy signal.
The views and opinions expressed here do not reflect that of BitcoinExchangeGuide.com and do not constitute financial advice. Always do your own research.
Disclaimer
The views and opinions expressed in this article are solely those of the authors and do not reflect the views of Bitcoin Insider. Every investment and trading move involves risk - this is especially true for cryptocurrencies given their volatility. We strongly advise our readers to conduct their own research when making a decision.