EOS Daily Price Forecast – December 7

EOS/USD Medium-term Trend: Bearish

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

Yesterday, December 6, the price of EOS was in a bearish trend. On December 5, the crypto's price fell to the low of $2.22 and commenced a range bound movement. On December 6, the bears resumed its downtrend and price was approaching the low of $ 1.71.

Meanwhile, the price is EOS is below the 12-day EMA and the 26-day EMA indicating that price is likely to fall. Also, 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. On December 6, the crypto's price was resisted by the 12-day EMA and price fell to the low of $1.70 and it commenced a range bound movement. Meanwhile, the Stochastic indicator is in the range below 20% which indicates that EOS has strong bearish momentum and a sell signal.

The crypto's price is likely to continue its fall as long as the stochastic bands are below the 20% range. Also, the price is EOS is below the 12-day EMA and the 26-day EMA indicating that price is likely to fall.

The views and opinions expressed here do not reflect that of BitcoinExchangeGuide.com and do not constitute financial advice. Always do your own research.

Publication date: 
12/07/2018 - 08:12
Author: 
Share: