- On the upside, if price break above the EMAs, the crypto’s price will resume its bullish trend.
- On the downside, if the bulls fail to break the EMAs, the market will continue its range bound move.
EOS/USD Medium-term Trend: Bearish
- Resistance levels: $ 7.00, $7.50, $8.00.
- Support levels: $6.00, $5.50, $5.00.
Yesterday, June 11, the price of EOS was in a sideways trend. On June 4, the EOS market had a downward correction which was corrected at the support of $6.29 price level. This downward correction erased the bullish gains of May. From the chart, the bullish trend has been taken over by the bearish trend, while a sideways trend is resuming.
The 12-day EMA and the 26-day EMA is flattening indicating that price is in a sideways trend. Also, the trend line has been broken and another confirmation candlestick was opened and closed on the opposite of the trend line. This indicates that the bearish trend has been terminated. The EOS market is now ranging below the EMAs.
On the upside, if price break above the EMAs, the crypto’s price will resume its bullish trend. On the downside, if the bulls fail to break the EMAs, the market will continue its range bound move. The MACD line and the signal line are above the zero line which indicates a buy signal.
EOS/USD Short-term Trend: Ranging
On the 1-hour chart, the price of EOS was in a sideways trend zone. The 12-day EMA and the 26-day EMA are flattening and trending horizontally indicating that price is in a sideways trend. The crypto’s price is trading now between the levels of $6.20 and $6.40.
Nevertheless, the market is in the oversold region of the daily stochastic but above 40% 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.
Bitcoin Market Price Chart in RealTime