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EOS/USD Medium-term Trend: Ranging
- Resistance levels: $ 6, $7, $8.
- Support levels: $3, $2, $1.
Yesterday, January 21, the price of EOS was in the bearish trend zone. Since on January 13, the price of EOS had been ranging between the levels of $2.26 and $2.60. On January 13, the price fell to the low of $2.26 to form the support level. Similarly, on January 19, the bulls reached the high of $2.59 to form the resistance level.
On January 20, the price of EOS fell to the $2.33 price level to commence a range bound movement. The crypto’s price is characterized by small body candlesticks like the Doji and the Spinning tops which described the indecision of buyers and sellers at the $2.33 price level. Meanwhile, the stochastic is out of the oversold region but above the 20% range. This indicates that the price of EOS is in a bullish momentum and a buy signal.
EOS/USD Short-term Trend: Ranging
On the 1-hour chart, the price of EOS is in a bearish trend zone. On January 20, the crypto’s price fell to the low of $2.33 to commence a range bound movement. The 12-day EMA and the 26-day EMA are horizontally flat.
The crypto’s price is below the 12-day EMA and the 26-day EMA which indicates that price is likely to fall. Meanwhile, the stochastic is out of the overbought region but above the 20% range indicating that the crypto is in a bearish momentum and a sell 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.