EOS/USD Medium-term Trend: Bearish

  • Resistance levels: $ 6, $7, $8
  • Support levels: $3, $2, $1.

Last week, the price of EOS was in the bearish trend zone. On December 10, the bulls reached the price at $2.97 but the crypto was resisted at the price of $3.05 . The bears broke the 12-day EMA and the 26-day EMA to the low of $2.46 price level. Thereafter, the crypto’s price commenced a range bound movement which was stalled by the 12-day EMA resulting in the fall of the crypto.

The crypto’s price has reached the previous low of December 27, and the bearish pressure is likely to be over. Meanwhile, the stochastic is approaching the oversold region but above the 20% range. This indicates that the price of EOS is in a bullish momentum and a buy signal. Also, the MACD line and the signal line are below the zero line which indicates a sell signal.

EOS/USD Short-term Trend: Bearish

On the 1-hour chart, the price of EOS is in a bearish trend zone. On December 13, the bears broke below the 12-day EMA and the 26-day EMA to the low of $2.27 price level. The crypto is now in a bullish movement attempting to break the 12-day EMA.

Meanwhile, the stochastic is out of the overbought region but below the 20% range indicating that the crypto is in a bullish momentum and a buy signal. Also, the MACD line and the signal line are below the zero line which indicates 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.

Original Article

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