2019-2-11 10:20 |
Last week, the price of EOS was in a sideways trend before the price breakout. On February 8, the bulls broke the 12-day EMA and the 26-day EMA to reach the bullish trend zone. The crypto’s price reached a high of $2.90 but was resisted. The crypto’s price retraced to the support of the 12-day EMA. If the bears break the EMAs, the crypto’s price is likely to fall.
On the other hand, if the bulls sustained a price above the EMAs, the price of EOS will rise to test the $2.90 price level again. Meanwhile, the stochastic is out of the overbought region but below the 80% range. This indicates that the price of EOS is in a bearish momentum and a sell signal. The price of EOS is above the EMAs which indicate that price is in the bullish trend zone.
EOS/USD Short-term Trend: BullishOn the 1-hour chart, the price of EOS is in a bullish trend. The crypto’s price reached a high of $2.85 and began to range bound movement above the EMAs. The crypto’s price is ranging above the 26-day EMA. If the bears break the EMAs, the crypto’s price will fall. The EOS price is trading at $2.77 as at the time of writing.
Meanwhile, the stochastic is out of the overbought region but below the 40% range. This indicates that the price of EOS is in a bearish momentum and a sell signal. The crypto’s price is below the 12-day EMA and the 26-day EMA which indicates that price is in the bullish trend zone.
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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