Last week the price of EOS was in the bullish trend zone. On February 2, the crypto’s price reached the high of $2.49 . The crypto’s price was resisted but found support at the 26-day EMA. Meanwhile, since on January 13, the crypto’s price had been ranging between the levels of $2.20 and $2.60.

Traders should trade the range bound movement if price tests either the support or resistance level. Meanwhile, the crypto’s price is rising at the support of 26-day EMA. If the price tests the resistance level traders should initiate short trades. Meanwhile, the stochastic is out of the overbought region but above the 40% range. This indicates that the price of EOS is in a bearish momentum and a sell signal.

On the 1-hour chart, the price of EOS is in a bearish trend zone. On February 2, the bulls reached the $2.49 price level but were resisted at the $2.50 price level. The price retraced and fell to the bearish trend zone. Meanwhile, the MACD line and the signal line are below the zero line which is a sell signal. The crypto’s price is at par with the 12-day EMA and the 26-day EMA which indicates that price is in the sideways 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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