2019-2-9 08:17 |
EOS/USD Long-term Trend: Bearish Resistance levels: $ 6, $7, $8. Support levels: $3, $2, $1.
The EOS/USD pair had been in a bearish trend zone since January 10. On January 10, the bears broke the 12-day EMA, the 26-day EMA and price fell to the low of $2.45 . The crypto’s price further depreciated to the low of $2.28 to commence a range bound movement. It was ranging between the levels of $2.20 and $2.60.
The 12- day EMA and the 26-day EMA are trending horizontally. On February 8, the bulls broke the EMAs and the resistance level at $2.60 to reach the bullish trend zone. The crypto’s price is trading at $2.77 as at the time of writing. The crypto’s price is likely to rise because it is above the EMAs.
Price is expected to rise and reach highs of $3 and $5 . Meanwhile, the Stochastic is out of the oversold region but above the 60% range which indicates that price is in a bullish momentum and 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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