In yesterday’s price analysis, the price of EOS was bearish. The downtrend which was initiated earlier in the week only grew stronger as time went by. The trend continued until this morning with the price of EOS falling from as high as $7.16 to as low as $6.97. The bears are still in full control of the market and if the bulls don’t show up soon, EOS may fall below $5.00 to the $4.19 level. A fall to the $4.19 level will give traders an excellent opportunity to dive into the market and make long term trades.
The Price Of EOS Against The USD
The EOS price charts indicate that the signal and the MACD lines are below zero. This shows that sellers are in charge of the market. The price is also below the 26-day and 12-day EMAs. Being below both EMAs is another clear bearish signal. The relative strength index, on the other, is around 34. This is another indicator that the market is in the oversold region. However, it also means that the bulls may take care over the market briefly in the coming days.
EOS Price Today – EOS / USD
Short-term, the price of EOS is ranging sideways against the USD. The signal line and MACD on the short-term chart are also below zero which is a sell signal. This is according to the price analysis of Azeer M from Bitcoin Exchange Guide. EOS is above the 26-day EMA and the 12-day EMA short-term. This means that the price of EOS is preparing to rise soon.
While there is negative sentiment all over the market, there is still the possibility of a comeback. Although it may not be obvious yet, the bulls are slowly gaining ground the market. The bears will lose momentum and give the bulls a fighting chance. Being patient will be beneficial long term. Buy when it’s low, and sell when it’s high but be ready to risk it all.