EOS/USD Long-term Trend: Bearish

Resistance levels: $ 6, $7, $8.
Support levels: $3, $2, $1.

The EOS/USD pair is currently in a bearish trend but had been bearish since April 2018. The first bear market was between April to August 6. Then price of EOS had a sideways trend between August and November 12. Currently, we are back to the bear market which commenced November 12  to the time of my writing. Price of EOS has fallen to the low of $1.87 as at today. From the weekly chart, the crypto has the tendency to fall again but in the lower time frame price is in a range bound movement.

However, the Stochastic is in the oversold region and below the 20% range. This indicates that EOS has a strong bearish momentum and a sell signal. Meanwhile, the price of EOS is below the 12-day EMA and the 26-day EMA which indicates that a bearish trend is ongoing. The MACD line and the signal line are below the zero line which indicates 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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