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EOS Price Prediction Today: Daily (EOS) Value Forecast – May 16

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  • Today, the market has risen to a high at $6.88 but the price is retracing in the continuation zone of the Fibonacci retracement levels.
  • On the upside, if the price retraces and holds either at the 0.236 or at the 0.382 retracement level, the price of EOS is likely to resume its bullish trend.

EOS/USD Medium-term Trend: Bullish

  • Resistance levels: $ 6.80, $7.0, $7.20.
  • Support levels: $6.20, $6, $5.80.

Yesterday, May 15, the price of EOS was in a bullish trend. Today, the market has risen to a high at $6.88 but the price is retracing in the continuation zone of the Fibonacci retracement level. On the downside, if price retraces and breaks the 0.236 and 0.382 price level, the crypto’s price will be in a downward trend.

On the upside, if the price holds either at the 0.236 or at the 0.382 retracement level, the price of EOS is likely to resume its bullish trend. From the price action, the crypto’s price is likely to rise because the price is above the 12-day EMA and the 26-day EMA. Meanwhile, the market is still at the overbought region of the daily stochastic indicator which indicates that price is in a bullish momentum and a buy signal.

EOS/USD Short-term Trend: Bullish

On the 1-hour chart, the price of EOS was in a bullish trend zone. However, the market is in a downward trend. The crypto’s price has fallen to the support of the 12-day EMA and if the bears break the EMAs, the price will find support at $6.40 price level.

On the upside, if the crypto’s price holds above the EMAs, the bulls will retest the $6.88 resistance level. Meanwhile, the market has reached the overbought region but below the 80% daily stochastic. This indicates that the price of EOS is in a bearish momentum and 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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