EOS Trades In Red But The Bulls May Still Have Some Steam Left 

Yesterday, the price of EOS was bullish with resistance levels at $7.50, $7.0, $6.5 and support levels at $4.5 $5.0, $5.5. The trend was bullish until early this morning. EOS even reached a high of $6.4 in the supply area before there was a pullback to $5.82. The bullish trend continued during the early hours of trading today. EOS moved towards $5.90 and the next high that was expected was at $6.42.

EOS Price Today – EOS / USD

Name Price24H (%)
EOS (EOS)
$1.82
-5.67%

At that time, the signal line and the MACD line were above the zero line which is a clear buy signal. Also, the price was above the 26 and 12 day EMAs showing that the bulls were in control of the market. The relative strength index was in 64 and this is another strong bullish indicator.

EOS Short-term Analysis

Short-term, EOS is on a sideways trend. The price is falling and this is obvious from the fact that it is below the 26 and 12 day EMAs short-term. The signal and MACD lines are also above zero indicating a buy signal. This means that the bulls haven’t run out of steam. This is according to the price analysis of Azeer M on Bitcoin Exchange Guide. EOS isn’t the only cryptocurrency that is currently trading in red. The pullback started when the leading cryptocurrency, Bitcoin, started trading in red. As you already know, the price action of Bitcoin is one of the key factors that affects the price action of every other cryptocurrency. The next few trading sessions will determine if the price action will change.

Right now, the price of EOS is trading in red. It is about 7.61% down against the USD and 4.81% down against Bitcoin. The trading volume within a 24 hour period is about $899,095,253 while the total market capitalization is about $5,295,132,538. The circulating supply of EOS at the time of writing was 906,245,118 while the total supply was 1,006,245,120.

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