Resistance levels: $ 5.5, $6.0, $6.5
Support levels: $4.5, $5.0, $5.5

Last week the price of EOS was in a bearish trend. The cryptocurrency was trading at a price of $7.03. On August 11, the bears took price to the low of $4.86 and the bulls took control and brought the price to the current level. Today, the market is moving in a sideways trend at a price of $5.00. Most of the digital currencies had been oversold and there is the need to look out for buy setups to initiate long trades.

This will enable us to enter the bullish trend at its inception. Meanwhile, the MACD line and the signal line are below the zero line which indicates a sell signal. In addition, the price of EOS is below the 12-day EMA and the 26-day EMA which indicates that the bearish trend is ongoing. Nevertheless, the Relative Strength Index period 14 is level 40 which indicates that price is in the sideways trend zone.

On the 1-hour chart, the price of EOS is in a bullish trend. The price is still above the 12-day EMA and the 26-day EMA which indicate that price is rising. Also, the MACD line and the signal line are below the zero line which indicates a sell 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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