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EOS/USD Medium-term Trend: Bearish
- Resistance levels: $ 6, $7, $8.
- Support levels: $3, $2, $1.
Yesterday, January 9, the price of EOS was in the bullish trend zone. At the support of 12-day EMA and the 26-day EMA, the crypto’s price is making a series of higher highs and higher lows. The price of EOS is approaching the high of $2.98 but the crypto may face resistance at the $3.0 price level.
Meanwhile, the stochastic is approaching the overbought region but below the 80% range. This indicates that the price of EOS is in a bearish momentum and a sell signal. Also, the MACD line and the signal line are above the zero line which indicates a buy signal.
EOS/USD Short-term Trend: Bearish
On the 1-hour chart, the price of EOS is in a bullish trend. Yesterday, the crypto's price had a price rally as the cryptocurrency reached the high of $3.0 price level. The crypto tests the resistance level and made a pullback to the low of $2.75.
The crypto is now ranging at the price of $2.98 and possibly fall to the bearish trend zone. Meanwhile, the stochastic is approaching the overbought region but below the 60% range indicating that the crypto is in a bearish momentum and a sell signal.
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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.