Last week the price of EOS was in a bearish trend. The crypto's price was fluctuating above and below the 12-day EMA and the 26-day EMA. In other words, the crypto was ranging below and above the $2.70 price level. On January 6, the bulls broke the 12-day EMA , the 26-day EMA and reached the high of $2.99. The crypto's price retraced as a result of resistance at the $3.0 price level.

The retraced price is testing the 12-day EMA. Meanwhile, the MACD line and the signal line above the zero line which indicates a buy signal. Also, 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.

On the 1-hour chart, the price of EOS is in a bearish trend. The crypto's price was retracing and testing the 26-day EMA. The 26-day EMA is acting as a support level for the price of EOS. The EOS price is likely to rise as the price is above 12-day EMA and the 26-day EMA.

Meanwhile, the MACD line and the signal line are above the zero line which indicates a buy signal. The stochastic is out of the oversold region but above the 20% range indicating that the crypto is in bullish momentum and a buy signal.

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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