Yesterday, the price of EOS was in the bearish trend zone. The price of EOS fell to its previous low at $2.23 price level. Yesterday, it was suggested that if the $2.33 price level was not broken traders should initiate long trades.

Today, the $2.23 price level is likely to hold as the bulls make a bullish movement to the 12-day EMA and the 26-day EMA. Meanwhile, the stochastic is out of the oversold region but above the 20% range. This indicates that the price of EOS is in a bullish momentum and a buy signal. The crypto’s price is below EMAs which indicates that price is in the bearish trend zone.

On the 1-hour chart, the price of EOS is in a bearish trend zone. On January 28, the crypto’s price reached the low of $2.22 and commenced a bullish movement to the 12-day EMA and the 26-day EMA.

The bulls have broken the 12-day EMA and it is attempting to break the 26-day EMA. Meanwhile, the MACD line and the signal line are below the zero line which is a sell signal. The crypto’s price is below the 12-day EMA and the 26-day EMA which indicates that price is in the bearish trend zone.

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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