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- The crypto is in a range bound movement after being repelled at the $3.80 price level.
- The price of EOS is trading at the $3.68 price level after breaking the previous resistance at $3.0.
EOS/USD Medium-term Trend: Bullish
- Resistance levels: $ 6, $7, $8.
- Support levels: $3, $2, $1.
Yesterday, February 18, the price of EOS was in a bullish trend. The crypto is in a smooth uptrend. A trend line is drawn showing the support levels where traders can initiate long trades. The price of EOS is making a series of higher highs and higher lows. The bulls have broken the $3.0 resistance level as price makes a higher highs. The bullish trend is ongoing because the trend line is not broken.
A bullish trend is said to be terminated when the trend line is broken and the following candlestick is closed on the opposite of it. The crypto’s price is trading at $3.67 as at the time of writing. 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 crypto is in a smooth bullish trend. The crypto is facing resistance at the $3.85 price level. The price is retracing and has commenced a range bound movement.
However, if the bears break below the 12-day EMA and the 26-day EMA, the crypto will resume its downward trend. Meanwhile, the stochastic is in the overbought region and 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.