- On the upside, if the price is sustained above the EMAs, the crypto will rise to retest the $7.20 price level.
- On the downside, if the bears break below the EMAs, the crypto will find support at the $6.0 price level.
EOS/USD Medium-term Trend: Bullish
- Resistance levels: $ 7.00, $7.50, $8.00.
- Support levels: $6.00, $5.50, $5.00.
Yesterday, June 19, the price of EOS was in a bullish trend. Yesterday, the upward move by the bulls was interrupted as the crypto commenced a range bound move. However, since on June 1, the price of EOS has been on a downward fall. At the $8.50 overhead resistance, the bulls were resisted and the market had a downward correction to the support level at $6.0 price level. The support level was holding as the bulls pulled back price above the EMAs. This probably suggest that the crypto would rise to retest the $8.50 overhead resistance.
But the bulls were resisted again at the $7.20 price level. Today, the price of EOS is ranging above the 12-day EMA with the appearance of small body candlesticks. These small body candlesticks are the Spinning tops or Doji that described the indecision between buyers and sellers. On the downside, if the bears break below the EMAs, the crypto will find support at the $6.0 price level. On the upside, if the price is sustained above the EMAs, the crypto will rise to retest the $7.20 price level.
EOS/USD Short-term Trend: Bearish
On the 1-hour chart, the price of EOS was in a bearish trend zone. The moving averages are pointing southward indicating that price is in a bearish trend. On June 17, the bulls tested the $7.20 resistance level twice before the market fell to the $6.70 price level.
The $6.70 price level was holding as the bulls make an upward move above the EMAs. Meanwhile, the EOS market is at the oversold region of the daily stochastic but above 20% range. This indicates that price is in a bullish momentum and a buy signal.
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