Last week the price of EOS was in the bearish trend zone. On January 22, the bulls broke the 12-day EMA and the 26-day EMA as the crypto reached the high of $2.54. The crypto’s price began a range bound movement above the 12-day EMA and the 26-day EMA at the price of $2.54. On January 26, the bears resisted price as it broke the EMAs to the low of $2.32.

The crypto’s price has reached the previous low at $2.33 price level. If the $2.33 price level is holding, traders should initiate long trades in anticipation of a bullish trend. Meanwhile, the stochastic is in the oversold region but  below 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 EMAs which indicates that price is in the bearish trend zone.

On the 1-hour chart, the price of EOS is in a bearish trend zone. Last week the crypto’s price fluctuates below and above the EMAs but on January 26, the bears broke the EMAs to the bearish trend zone. The 12-day EMA provides resistance to the crypto’s price. Today, the crypto’s price fell to the $2.31 price level and commenced a range bound movement. The MACD line and the signal line are below the zero line which is a sell 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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