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EOS/USD Medium-term Trend: Bullish
- Resistance levels: $ 6, $7, $8.
- Support levels: $3, $2, $1.
Yesterday, February 12, the price of EOS was in a bullish trend. The crypto had been in the bullish trend zone for the past six days. Yesterday, the small body candlesticks were trending above the 12-day EMA which resulted in the bullish trend that reached a high of $ 3.01. As earlier suggested the crypto has reached the $3.0 price level.
The bulls have not been able to break the $3.0 price level since January 2, 2019. On the upside, if the bulls break the $3.0 price level, the crypto will reach the highs of $3.5 and $5.0. Meanwhile, the stochastic is in the overbought region but above the 80% range. This indicates that the price of EOS is in a strong bullish momentum and a buy signal. The price of EOS is above the EMAs which indicate that price is in the bullish trend zone.
EOS/USD Short-term Trend: Bullish
On the 1-hour chart, the price of EOS is in a bullish trend. The 12-day EMA and the 26-day EMA are trending northward. Yesterday, the bulls reached a high of $3.06 but closed at $3.01 price level. Today, the bulls are retesting the $3.0 resistance level.
If the bulls break the resistance level, the crypto will reach the previous highs. If the crypto’s price is resisted, it will commence a range bound movement. Meanwhile, the stochastic is at the overbought region but below the 80 % range. This indicates that price 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.