Yesterday, January 30, the price of EOS was in the bullish trend zone. The price of EOS is making a series of higher highs and higher lows in a bullish trend. A trend line is drawn to determine the duration of the trend. The trend line shows the support levels where traders can initiate long traders. Presently, the bullish trend is said to be ongoing because the trend line is unbroken. A bearish trend line is on the trend line but yet to break it.

However, a bullish trend is said to be terminated if the trend line is broken and the following candlestick closed on the opposite of it. Meanwhile, the stochastic is in the overbought region but below the 80% range. This indicates that the price of EOS is in a strong bullish momentum and a buy signal. The crypto’s price is above the EMAs which indicates that price is in the bullish trend zone.

On the 1-hour chart, the price of EOS is in a bullish trend zone. On January 29, the bulls broke the 12-day EMA, the 26-day EMA as the price reached the bullish trend zone. The crypto’s price is likely to rise but may face resistance at the $2.50 price level.

Meanwhile, the MACD line and the signal line are above the zero line which is a buy signal. The crypto’s price is above the 12-day EMA and the 26-day EMA which indicates that price is in the bullish 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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