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EOS/USD Medium-term Trend: Ranging
Resistance levels: $ 6, $7, $8.
Support levels: $5, $4, $3.
Yesterday, October 22, the price of EOS was in a bearish trend. On October 21, the crypto's price reaches the high of $5.63 but it pulled back to the low of $5.54. Since then the digital currency had been on a downward trend. If the downward trend continues price is likely to test the lows of $5.40 or $ 5.20. On the other hand, price may continue its range bound movement.
However, the digital currency is currently range bound between the levels of $5 and $6. Nevertheless, 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 in the bearish trend zone .
EOS/USD Short-term Trend: Bearish
On the 1-hour chart, the price of EOS is in a bearish trend. The crypto’s price is below the 12-day EMA and the 26-day EMA which indicates that price is falling. In the same vein, the MACD line and the signal line are below the zero line which indicates a sell 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.