Resistance levels: $ 6, $7, $8.
Support levels: $5, $4, $3.

Yesterday, October 17, the price of EOS was in a sideways trend. On October 15, EOS had a price rally and price reached the high of $6.08 but pulled back to the low of $5.57. The digital currency had since been fluctuating below and above $5.57 price level in the last four days. Price is likely to test the resistance level at $6.

However, if the price is resisted again at the resistance of $6, traders should initiate a short trade. A stop-loss order should also be placed above the $6 price level. Then you exit your short trade near the lower price level. Nevertheless, the MACD line and the signal line are above the zero line which indicates a buy signal. In addition, the price of EOS is above the 12-day EMA and the 26-day EMA which indicates that price is rising.

On the 1-hour chart, the price of EOS is in a sideways trend. The crypto's price is still fluctuating in a horizontal pattern. The price of EOS is above the 12-day EMA and the 26-day EMA which indicates that price is rising.

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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