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EOS/USD Medium-term Trend: Bearish
- Resistance levels: $ 6, $7, $8.
- Support levels: $3, $2, $1.
Yesterday, December 27, the price of EOS was in a bearish trend. Yesterday, the crypto’s price fell to the low of $2.37 from the previous high of $2.59. It was suggested in the previous analysis that if the crypto’s price broke the $2.5 price level, the crypto would find support at either $2.0 or $2.40 price level.
Presently, the crypto’s price is below the 12-day EMA and the 26-day EMA which indicates that price may continue its downward fall. Similarly, the stochastic indicator is in the oversold region below the 20% range which indicates that the EOS is in a strong bearish momentum.
EOS/USD Short-term Trend: Bearish
On the 1-hour chart, the price of EOS is in a bearish trend. After the previous range-bound movement, the crypto’s price fell to the $2.37 price level and commenced a range bound movement.
Meanwhile, the crypto’s price is below the 12-day EMA and the 26-day EMA which indicates that price is likely to fall. In the same vein, the stochastic indicator is of the oversold region but above the 20% range. This means that the price of EOS is in a bullish momentum and 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.