EOS/USD Medium-term Trend: Bullish

Resistance levels: $ 6, $7, $8.
Support levels: $3, $2, $1.

Yesterday, January 2, the price of EOS was in a bullish trend zone. The crypto‘s price reached a high of $2.96 and was resisted. The 12-day EMA and the 26-day EMA are trending northward. However, the crypto’s price had been resisted at the $3.01 price level and it is retracing and approaching the $2.90 price level. As the crypto is retracing, it may retrace to the EMA and probably resume the uptrend movement.

On the other hand, if the retracement leads to the breaking of EMAs to the downside, the crypto will commence its downward trend. Meanwhile, the Stochastic is out the overbought region but below the 80% 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 was in a bullish trend. The crypto’s price is retracing now after the resistance at $3.01. The price fell to the 12-day EMA and the 12-day EMA became a support level for the cryptocurrency. The bearish candlestick was well supported by the 12-day EMA.

Meanwhile, the bullish candlesticks are making another bullish movement. Meanwhile, the stochastic indicator is out of the overbought region but above the 20% range which indicates that EOS is in a bullish momentum and a buy 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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