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. The cryptocurrency had been range bound between the months of August and October 2018. On November 14, while in a sideways trend, the bears broke the 12-day EMA and the 26-day EMA which resulted in the crypto to fall in a downtrend. The price of EOS had been in a smooth downtrend as the price had a free fall without a resistance.

The bulls have never made a pullback since the beginning of the downtrend.Nevertheless, 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 Stochastic indicator has fallen below the 20% price range. This implies that the price of EOS is in a strong bearish trend

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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