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EOS/USD Medium-term Trend: Bullish
- Resistance levels: $ 6, $7, $8.
- Support levels: $3, $2, $1.
Yesterday, January 22, the price of EOS was in the bullish trend zone. The crypto’s price has been ranging at the $2.33 price level in the last 48 hours. Yesterday, the bulls break the 12-day EMA, the 26-day EMA and price reached the high of $2.54.
At the bullish trend zone, the price is retracing to a range bound movement. The price is expected to rise to reach the $3.0 resistance level. Meanwhile, the stochastic is out of the oversold region and it is approaching the 80% range. This indicates that the price of EOS is in a bullish momentum and a buy signal.
EOS/USD Short-term Trend: Bullish
On the 1-hour chart, the price of EOS is in a bullish trend zone. Yesterday, the crypto's price reached the high of $2.54 and price made a pulled back after facing resistance at the $2.54 price level. The crypto's price is approaching the 26-day EMA to break below it.
The crypto’s price is above the 12-day EMA and the 26-day EMA which indicates that price is likely to rise. Also, the stochastic is out of the overbought region but below the 60% range. This indicates that the price of EOS 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.