The price of EOS is ranging against the USD short-term and medium-term. The resistance levels are currently at $8.0, $7.5, 7.0 while the support levels are at $5.5, $6.0, $6.5. During yesterday’s trading session, the price of EOS was in a sideways trend and the price was fluctuating between $6.99 and $7.1. There is currently no significant price movement and this has been the case since the beginning of August. The cryptocurrency was trading in the demand area of $6.99 at the time of writing.
The Price Of EOS Vs The USD
Today, the signal line and the MACD line are below the line zero indicating that the sellers are dominating the market. Also, the price is below the 26-day EMA and the 12-day EMA indicating that the bears are in control of the market. The relative strength index is around 43 which is also an indication of a sideways trend. This is according to the price analysis of Aayush Jindal from Bitcoin Exchange Guide.
EOS Short-term Analysis
The price of EOS on the 1-hour chart is still trending sideways and the bars are neither above or below the 26-day EMA and the 12-day EMA. This shows that the price of EOS is trending sideways short-term. The short-term signal and MACD lines are below the line zero which is also a sell signal.
EOS Price Today – EOS / USD
EOS isn’t the only cryptocurrency that is having a hard time in the market. However, it happens to be in the list of top losses. Many major cryptocurrencies have been on a downtrend for some days now. Only a few altcoins like Ethereum Classic are recording gains. While the cause of the price crash isn’t clear, it is important that traders stay on high alert for the next few trading sessions. This isn’t the best time to make rash decisions. It’s true that buying when the price is low is a good idea, but it’s not a good idea to invest all your capital in one cryptocurrency. Diversifying your portfolio is a good way to minimize the risks attached to trading cryptocurrencies.