The EOS to USD trading pair is on a bearish trend. The trend was initiated yesterday but it is yet to have an effect on the price action. The market has been relatively stable and quiet with EOS trading around $7.16. The price charts indicate that the MACD and the signal lines are below zero. This is one of the clear sell signals. The EOS to USD pair is below the 26-day EMA and the 12-day EMA indicating that the price is on a downtrend. On another note, the relative strength index is in the 33 level indicating that the asset is oversold but the bulls may take full control of it soon.
EOS To USD Pair Is In Range Short-term
The one hour chart of the EOS to USD trading pair shows that EOS is currently trading in a sideways trend. The price bars are trading horizontally at $7.16. The signal line and the MACD short-term are below zero which is a sell signal. The price of EOS is not above or below the 26 and 12-day EMAs on the short-term trend. This shows that the price is sideways.
EOS Price Today – EOS / USD
The next few trading sessions will determine if the bearish trend will change the price action of the EOS to USD trading pair or not. If it changes, EOS may stand a chance of recovery. While EOS may be suffering now, it’s not the only cryptocurrency having a hard time in the market. Other cryptocurrencies are feeling the bearish wave and are trading on a downtrend or a stable trend.
While the stability may appear like a bad thing, it’s way better than a continuous decline. Traders should keep their fingers crossed because the cryptocurrency market is speculative and volatile. EOS is part of this market so no one can really determine when the price action will change or if it will change in favor of the bulls or bears.