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EOS/USD Medium-term Trend: Bearish
- Resistance levels: $ 6, $7, $8.
- Support levels: $3, $2, $1.
Last week the price of EOS was in a bearish trend. The crypto's price was fluctuating above and below the 12-day EMA and the 26-day EMA. In other words, the crypto was ranging below and above the $2.70 price level. On January 6, the bulls broke the 12-day EMA , the 26-day EMA and reached the high of $2.99. The crypto's price retraced as a result of resistance at the $3.0 price level.
The retraced price is testing the 12-day EMA. Meanwhile, the MACD line and the signal line above the zero line which indicates a buy signal. Also, the Stochastic is out of the overbought region but below the 80% range. This indicates that the price of EOS is in a bearish momentum and a sell signal.
EOS/USD Short-term Trend: Bearish
On the 1-hour chart, the price of EOS is in a bearish trend. The crypto's price was retracing and testing the 26-day EMA. The 26-day EMA is acting as a support level for the price of EOS. The EOS price is likely to rise as the price is above 12-day EMA and the 26-day EMA.
Meanwhile, the MACD line and the signal line are above the zero line which indicates a buy signal. The stochastic is out of the oversold region but above the 20% range indicating that the crypto is in 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.