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

Yesterday, December 4, the price of EOS was in a bearish trend. The price of EOS is in a smooth downtrend. The digital currency is making a series of lower highs and lower lows. Traders can initiate short trades at the resistance levels. The resistance levels are the points where price tests the trend line and bounces back.

Meanwhile, the bearish trend is likely to continue because the trend line is not yet broken. A bearish trend is said to be terminated if a bullish candlestick breaks the trend line and the following candlestick closed on the opposite of it. Meanwhile, the price is EOS is below the 12-day EMA and the 26-day EMA indicating that price is likely to fall. Also, the MACD line and the signal line are below the zero line which indicates a sell signal.

On the 1-hour chart, the price of EOS is in a bearish trend. The crypto's price is still on a downtrend as the price is below the 12-day EMA and the 26-day EMA. The price of EOS is expected to reach the low of $2 price level.

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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