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EOS/USD Medium-term Trend: Bearish
- Resistance levels: $ 6, $7, $8.
- Support levels: $3, $2, $1.
Yesterday, January 7, the price of EOS was in a bullish trend. The crypto’s price reached the high of $3.0 but faced resistance at that level. The retraced price has broken the 12-day EMA and the 26-day EMA but found support at the 26-day EMA. Today, the bears have broken below the 12-day EMA and the 26-day EMA.
The crypto's price is likely to fall as the price is below 12-day EMA and the 26-day EMA. The crypto is trading at $2.79 as at the time of writing. If the bearish pressure continued the price might likely fall to the low of $2.51. Meanwhile, the stochastic is out of the overbought region but below the 20% range. This indicates that the price of EOS is in a strong 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. On January 6, the crypto's price retraced after the resistance at the $3.0 price level. The bears have broken below the 12-day EMA and the 26-day EMA. The crypto's price is likely to fall as the price is below 12-day EMA and the 26-day EMA. The stochastic is in the oversold region but above the 20% range indicating that the crypto 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.