Yesterday, January 7, the price of EOS was in a bullish trend. The crypto’s price reached the high of $3.0 but faced resistance at that level. The retraced price has broken the 12-day EMA and the 26-day EMA but found support at the 26-day EMA. Today, the bears have broken below the 12-day EMA and the 26-day EMA.

The crypto's price is likely to fall as the price is below 12-day EMA and the 26-day EMA. The crypto is trading at $2.79 as at the time of writing. If the bearish pressure continued the price might likely fall to the low of $2.51. Meanwhile, the stochastic is out of the overbought region but below the 20% range. This indicates that the price of EOS is in a strong bearish momentum and a sell signal.

On the 1-hour chart, the price of EOS is in a bearish trend. On January 6, the crypto's price retraced after the resistance at the $3.0 price level. The bears have broken below the 12-day EMA and the 26-day EMA. The crypto's price is likely to fall as the price is below 12-day EMA and the 26-day EMA. The stochastic is in the oversold region but above the 20% range indicating that the crypto is in a bullish momentum and a buy 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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