EOS/USD Medium-term Trend: Bullish

Resistance levels: $ 9.0, $9.5, $10.0
Support levels: $8.0, $7.5, $7.0

Yesterday, July 18th, price of EOS was in a bullish trend . The cryptocurrency rose to the high of $ 9.0 and went into a range bound movement. Later the price of EOS fell to the low of $ 8.4. The cryptocurrency is  outside the previous range bound zone of $8.0 and $6.5.

Meanwhile, the MACD line and the signal line are above the zero line which indicates a buy signal. The price of EOS is above the 12-day EMA and the 26-day EMA which indicates that the cryptocurrency is rising.

On the 1-hour chart, the price of EOS is in a bearish trend. Also, the MACD line and the signal line are below the zero line which is a sell signal. In addition, the 12-day EMA and the 26-day EMA are above the price of EOS which indicates that the bearish trend is ongoing. Nevertheless, the relative strength index period 14 is level 37 which indicate the market is oversold suggesting bulls to take control of the market. This implies that all the short trades should be exited while we wait for any buying opportunity.

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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