EOS/USD Medium-term Trend: Bearish

Resistance levels: $ 7.5, $8.0, $8.5
Support levels: $7.0, $6.5, $6.0

Yesterday, August 1, the price of EOS was in a bearish trend. The bearish trend has no significant effect on the price movement. The market has been quiet and the cryptocurrency is trading horizontally at a price of $7.16 as at the time of writing.

From the chart, the MACD line and the signal line are below the zero line which indicates a sell signal. Similarly, the price of EOS is below the 12-day EMA and the 26-day EMA which indicates that price is falling. Nevertheless, the relative strength index period 14 is level 33 which indicate that the market is oversold suggesting bulls to take control of the market.

From the 1-hour chart, the price of EOS is in a sideways trend. The EOS price bars are trading horizontally at a price of $ 7.16. The MACD line and the signal line are below the zero line which indicates a sell signal. In addition, the price of EOS is neither below nor above the 12-day EMA and the 26-day EMA which indicates that price is in a sideways trend.

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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