Yesterday, February 5, the price of EOS was in a bearish trend. Yesterday, the price was in the bullish trend zone fluctuating above the 12-day EMA and the 26-day EMA. Today the crypto was resisted at the price of $2.42 but fell to the low of $2.34. On the downside, if the bearish trend is continuing the price of EOS will further depreciate to the low of $ 2.33.

The support level at $2.33 and the resistance level at $2.60 were the levels the crypto was range bound since January 13. If the price falls to the support and holds, traders should initiate long trades in anticipation of a bullish trend. 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.

On the 1-hour chart, the price of EOS is in a bearish trend. The 12-day EMA and the 26-day EMA are trending horizontally. The crypto's price is fluctuating above the $2.40 price level. On February 5, the bulls broke above the EMAs but were resisted at the price of $2.42.

Meanwhile, the stochastic is out of the overbought region but above the 20% 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 bearish 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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