• The price of EOS fell at the low of $3.58 and commenced a range bound movement.
  • On the other hand, if the bulls break the EMAs, the crypto’s price will rise and retest the $4.0 resistance level.

EOS/USD Medium-term Trend: Ranging

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

Yesterday, March 13, the price of EOS was in a bearish trend. On March 12, the crypto’s price was in a bullish trend. It was assumed that the price would fall below the 12-day EMA and the 26-day EMA. The price of EOS fell at the low of $3.58 and commenced a range bound movement. The crypto’s price is below the EMAs which indicate that price is likely to fall.

On the downside, if the bulls fail to break above the EMAs, the crypto’s price will fall. On the other hand, if the bulls break the EMAs, the crypto’s price will rise and retest the $4.0 resistance level. Also, the stochastic is out of the oversold region but above the 40% range. This indicates that the price of EOS is in a bullish momentum and a buy signal.

EOS/USD Short-term Trend: Ranging

On the 1-hour chart, the price of EOS is in a sideways trend. Yesterday, the bulls broke the 12-day EMA and the 26-day EMA to reach a high of $3.69 but were resisted. The price of EOS fell back to the EMAs and it is range bound above the $3.63 price level.

The crypto’s price is neither above nor below the EMAs which indicate price is in sideways trend zone. The stochastic indicator is out of the oversold region but below the 60% range. This indicates that price 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.

(Excerpt) Read more Here | 2019-03-14 09:27:38
Image credit: source

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