The price of EOS is trading in range medium-term with resistance levels at $6.0, $5.5, $5.0 and support levels at $3.5, $4.0, $4.5. EOS price was sideways yesterday and it is now ranging between $5.0 and $4.0. The sideways trend showed that there is resistance upward around $5.5. The next high for EOS Price was around $5.32 yesterday before it started pulling back falling to the $4.52 level. Today, EOS is trading in range but the price action is still bullish. The price of EOS was around $4.78 at the time this piece was written.
EOS Price Against The USD
The MACD on the hourly chart of EOS price against the USD and the signal line are far below the zero line. This shows that the sellers are in control of the market. The price is also below the 26-day EMA and the 12-day EMA indicating that there is bearish pressure in the market. The relative strength index is below 44 and this is another evidence of a sideways trend.
EOS Price Today – EOS / USD
Short-term, EOS price is still on a sideways trend below the 26-day EMA and the 12-day EMA as indication of a strong ongoing bearish trend. This is according to the price analysis of Azeer M from Bitcoin Exchange Guide. The next few trading sessions will determine if the price action will change.
EOS And The Community
While the price of EOS isn’t showing any pleasant rise, EOS developers are working on many projects that will enhance and promote the blockchain. The EOS platform is gradually gaining massive adoption. It’s fee-free chain for airdrops is releasing new tokens every now and then. One of the most popular EOS DApp among the community is Everipedia. This app records over 1.2 million visitors monthly.
Recently, EOS Alliance was launched. The goal of this body, among other things, is to keep the platform as decentralized as possible while building a stronger EOS community.