According to the chart of the EOS/USD pair, the price movement turned bearish. The virtual currency fell in price from its recent 8.5 USD high to a 6.70 USD low before making a bullish movement towards the 7.05 USD high. After this range-bound price movement, the pair fell once again to the 7.70 USD low. Today, the charts show that the price of EOS is in a bullish pattern. Meanwhile, the MACD sign and signal line are just below the zero pointers indicating a selloff.
EOS Price Today – EOS / USD
Additionally, the price indicators of EOS are slightly looking at the 12-day EMA as well as the 26-day EMA indicating that a bullish price trend is ongoing. The relative strength index time frame 14 is at level 39 indicating that EOS price is in the bullish zones.
EOS/USD USD Pair is Bullish in The Short-Term Pattern
From the 1-hour chart of the pair, we can see that prices are in a bullish movement. The price indicators of EOS are a little ahead of the 12-day EMA indicating that the digital currency is rising. The MACD signs and the signal pattern are above the zero pointers.
Crypto Market Headlines and Other Factors in The Crypto Ecosystem Could Continue to Influence Prices
Virtual tokens like EOS had a rough run in the market last week due to the USD gaining strength and risk-off moves. The fact that economists like Roubini and Stiglitz chose to blast Bitcoin (BTC) and other top coins again didn’t help issues. Instead, it ended up dampening investor sentiment despite a strong start for cryptos last week. But now it appears the mood has improved again as buyers keep defending near-term support levels. For many crypto proponents, this represents a good sign for the market.
Even though prices are unstable and low among cryptos, trade-related headlines could influence the demand of cryptocurrencies in the week ahead, as well as the general market sentiment. Another factor that could affect price movement is updates on the regulation of the industry. It is worth noting to indicate that the United States recently indicted some Russian officials for using virtual currencies to interfere during the 2016 presidential elections.