EOS/USD Medium-term Trend: Bullish
Resistance levels: $ 6.50, $7.00, $7.50.
Support levels: $4.00, $3.50, $3.00.
Last week the price of EOS was in the bearish trend zone after the downward correction. On June 23, the EOS market was trading above the EMAs but was resisted at the $7.50 price level. The market fell as the bears broke the EMAs.On July 16, the downward trend was corrected at the support of the $3.65 price level. On July 17, the bulls made an upward move and broke the above 12-day EMA but were resisted at the 26-day EMA. On the upside, if the bulls break above the 12-day EMA and the 26-day EMA, the coin will retest the $7.5 price level. On the other hand, if the bulls fail to break the EMAs, the crypto’ price will continue its range-bound move between the levels. Meanwhile, the EOS market is in the overbought region of the daily stochastic but below 80% range. This indicates that price is in a bearish momentum and a sell signal.
EOS/USD Short-term Trend: Ranging
On the 1-hour chart, the price of EOS is in a sideways trend. The 12-day EMA and the 26-day EMA are trending horizontally. On July 27, the bulls were resisted at the $4.70 price level as the bears broke the EMAs to reach the low of $4.20. The crypto’s price is now fluctuating above the $4.20 support level but below the EMAs. Meanwhile, the EOS market is in the oversold region of the daily stochastic but above 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.
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