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EOS/USD Medium-term Trend: Bearish
- Resistance levels: $ 6, $7, $8.
- Support levels: $3, $2, $1.
Yesterday, January 16, the price of EOS was in the sideways trend zone. The 12-day EMA and the 26-day EMA were trending horizontally. The crypto’s price is neither below nor above the 12-day EMA and the 26-day EMA indicating that price is in a sideways trend. Today, the crypto’s price is falling below the 12-day EMA and the 26-day EMA indicating that price is likely to fall.
If the bearish trend continues the crypto will revisit the previous low of $2.26
Meanwhile, the stochastic is below the 60% 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 bearish trend zone. Yesterday, the price of EOS was in the bullish trend zone as the price reached the high of $2.47. Today, all the bullish gains were erased as the bears broke the 12-day EMA and the 26-day EMA to the low of $2.44.
Meanwhile, the stochastic is out of the overbought region but above the 25% range indicating that the crypto is in a bullish momentum and a buy signal. Also, the MACD line and the signal line are above the zero line which indicates 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.