EOS/USD Medium-term Trend: Bearish
Resistance levels: $ 6.0, $6.5, $7.0
Support levels: $5.0, $4.5, $4.0
Yesterday, September 25, the price of EOS was in a bearish trend. The price of EOS had been on a downward trend since September 22. The digital currency reached the high of $6.28 and was resisted. The price was falling to the low of $5.2 and the fall has not abated. However, if the price falls and breaks the $5.0 price level, the digital currency will fall into the previous range bound zone.
Previously, the price of EOS ranges between the levels of $4.0 and $5.0. However, if the $5.0 price level is holding traders should look out for buy setups to initiate long trades. Meanwhile, the MACD line and the signal line are below the zero line which indicates a sell signal. In addition, the price of EOS is below the 12-day EMA and the 26-day EMA which indicates that the price is in a bearish trend. Nevertheless, the Relative Strength Index period 14 is level 39 which indicates that the market is oversold suggesting bulls to take control of the market.
EOS/USD Short-term Trend: Bullish
On the 1-hour chart, the price of EOS is in a bullish trend. On the chart, the price of EOS is above the 12-day EMA and the 26-day EMA which indicates that price is rising. The MACD line and the signal line are above the zero line which indicates a buy signal.
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