Will EOS Price Break the Upper Resistance Level?
The post Will EOS Price Break the Upper Resistance Level? appeared on BitcoinEthereumNews.com. EOS price forecast indicates that the EOS crypto may see further weakness in its value. Presently, the EOS price is down by 1.52% over the past 7 days and according to the price action, it is facing bearish pressure. At present, the bears are in charge of the trend where they are maintaining firm command over the price action, although the bulls attempted to take control. Despite the bullish optimism, the buyers were unable to break above 50 EMA, and bears regained supremacy over the price action on the 1-day chart. EOS crypto is under the key exponential moving averages within the bears’ grasp. The price is facing resistance from the 50 EMA at present on the daily time frame. The price is facing substantial selling pressure in the supply zone which indicates that bears may push its value down further in the near future. Technical indicators suggest that bears hold the edge over the price action. The price pattern, oscillators, EMA’s, and Volume are moving in tandem, giving similar signals. At the time of writing, EOS price was $0.5302 with an intraday loss of 0.89%, signaling bearishness. Moreover, the 24-hour trading volume is 44.37 Million. Technical Analysis of EOS Crypto Price in 1-D Time Frame Source: EOS.1D.USD by TradingView At the time of publishing, EOS crypto was above 50 and 200-day exponential moving averages (EMAs), which are supporting the price trend. However, if selling volume adds up, then the price might conquer supporting SMAs by making lower highs and lows. Hence, the EOS price is expected to move downwards giving bearish views over the daily time frame chart. The current value of RSI is 35.90 points. The 14 SMA is above the median line at 39.90 points which indicates that the EOS crypto is bearish. The MACD line at…
The post Will EOS Price Break the Upper Resistance Level? appeared on BitcoinEthereumNews.com.
EOS price forecast indicates that the EOS crypto may see further weakness in its value. Presently, the EOS price is down by 1.52% over the past 7 days and according to the price action, it is facing bearish pressure. At present, the bears are in charge of the trend where they are maintaining firm command over the price action, although the bulls attempted to take control. Despite the bullish optimism, the buyers were unable to break above 50 EMA, and bears regained supremacy over the price action on the 1-day chart. EOS crypto is under the key exponential moving averages within the bears’ grasp. The price is facing resistance from the 50 EMA at present on the daily time frame. The price is facing substantial selling pressure in the supply zone which indicates that bears may push its value down further in the near future. Technical indicators suggest that bears hold the edge over the price action. The price pattern, oscillators, EMA’s, and Volume are moving in tandem, giving similar signals. At the time of writing, EOS price was $0.5302 with an intraday loss of 0.89%, signaling bearishness. Moreover, the 24-hour trading volume is 44.37 Million. Technical Analysis of EOS Crypto Price in 1-D Time Frame Source: EOS.1D.USD by TradingView At the time of publishing, EOS crypto was above 50 and 200-day exponential moving averages (EMAs), which are supporting the price trend. However, if selling volume adds up, then the price might conquer supporting SMAs by making lower highs and lows. Hence, the EOS price is expected to move downwards giving bearish views over the daily time frame chart. The current value of RSI is 35.90 points. The 14 SMA is above the median line at 39.90 points which indicates that the EOS crypto is bearish. The MACD line at…
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