EOS/USD Long-term Trend: Bearish

Resistance Levels: $7.5, $8.0, $8.5
Support levels: $ 6.5, $ 6.0, $5.5

The price of EOS had been in a downward trend since April, 29 at a price of $17.2. It is now trading at $7.5 as at the time of writing. Presently, the price of EOS is fluctuating between the resistance level at $9.5 and the support level at $6.9. This also implies that if the bears break the support level at $6.9, the digital currency will fall to the low of $4.1. But if the bulls break the resistance level at $9.5, the cryptocurrency will rise to the highs of $11.45. Traders should look out for buy setups if price breaks the support level at $6.9.

However, the MACD line and the signal line are above the zero line which indicates a buy signal. Also, the price bars of Litecoin is below the 12-day EMA and the 26-day EMA which indicates that the bearish trend is continuing. Nevertheless, the relative strength index period 14 is level 45 which indicates that the price of EOS is in the sideways 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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