EOS/USD Long-term Trend: Ranging Resistance levels: $ 6, $7, $8. Support levels: $3, $2, $1.

The EOS/USD pair had been in a bearish trend zone after an initial range bound movement. In the month of January, EOS traded but fell from $2.62 to $2.35. The 12-day EMA and the 26-day EMA were horizontal as the crypto’s price was trading below the EMAs. In February 8, the bulls broke the 12-day EMA and the 26-day EMA as the price of EOS appreciated in value.

The crypto’s price reached a high of $2.99. And as at the time of writing, the crypto has remained in the bullish trend zone in the last one week and has not been able to go above its previous high of $2.99. On February 13, the crypto’s price traded and was resisted at the $3.05 price level.

On the upside, the price of EOS will rise if the crypto’s price is sustained above the EMAs, and the bulls break the resistance at $3.0 price level. The price of EOS is retracing and it is trading at $2.81 as at the time of writing. Meanwhile, the Stochastic is out of the overbought region and below the 80% range which indicates that price is in a bearish momentum and a sell signal. The crypto’s price is above the 12-day EMA and the 26-day EMA which indicates that price is in the bullish 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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