EOS Faces Bearish Opposition Medium-Term And Short-Term Against The USD 

The entire cryptocurrency market is suffering the downside of being linked to Bitcoin. Everyone in the industry knows that a rise in the price of Bitcoin directly leads to a rise in the price of altcoins. If this was the only case, no one would get worried when Bitcoin starts shedding off gains. As Bitcoin (BTC) falls, altcoins follow suit.

EOS Price Today – EOS / USD

Name Price24H (%)
EOS (EOS)
$5.34
-0.28%

EOS is bearish with support levels at $3.50, $4.0, $4.5 and resistance levels at $7.0, $6.0, $6.5. During yesterday’s trading session, EOS was trading sideways against the USD. It was range bound above $6.50 before the bears took full control of the market and pushed the price down. The bulls had enough momentum to push the price towards $650 but when it got to $648, the bears overtook them as they ran out of steam. The bears pushed the price below $5.02 putting EOS at risk if falling into the previous range. If it gets to this zone, it will start trading in range again.

The signal line and the MACD line are presently below the zero line. This means there is selling pressure in the market. EOS price is below the 26 day EMA and the 12 day EMA indicating that their is bearish pressure in the market. However, the bulls haven’t lost total control of the market as the relative strength index 14 is at level 19. The market is gradually entering the oversold region and the bulls will gather momentum soon. This is according to the price analysis of Azeer M from Bitcoin Exchange Guide.

EOS Price Analysis Now

Short-term, the price of EOS is also bearish against the USD. From the hourly chart, there is clear evidence that the bears are in control and the price is going to keep falling. At the time of writing, EOS price was around $5.03. This indicates a 15.22% fall against the USD and a 6.41% against Bitcoin. While the trading volume over 24 hours is $1,025,881,066, most of it is from sellers. The market capitalization is about $4,557,408,371.


SEE ALSO:   Monero Sets A Record As The First Billion-Dollar Cryptocurrency To Implement Bulletproofs Protocol 

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