EOS Trades In Range As The Cryptocurrency Market Suffers Bearish Wave

There has been a lot of heat in the industry over the last 24 hours. Investors are wondering what ignited the bearish wave that is currently affecting the market. EOS is also being affected by the bears. This morning, EOS was trading in range with resistance levels at $8.0, $7.0, $6. 0 and support levels at $3.0, $5.0, and $4.0. The range bound trading started last week after the price of EOS fell to the $4.72. The bulls briefly took control of the market pushing the price all the way to $5.02. It started trading in range between $5.02 and $5.00. It kept ranging for days. According to reports on smartereum.com.

EOS Price Today – EOS / USD

Name Price24H (%)
EOS (EOS)
$2.01
11.73%

Even if the bulls were later able to raise the price to the $6.28 level, there was strong resistance that prevented upward movement and ignited the downtrend. The price started to move towards the $5.78 low and tried to break the support at $5.0. If it crosses this level, it will fall into a lower range bound zone. The technical charts show that the signal line and the MACD line are above the zero line. This shows that there is a lot of selling pressure in the market. The price is currently below the 26-day and 12-day EMAs. This shows that there is some bearish pressure on the market. The period 14 relative strength index is in level 50. This shows that there is a sideways trend in the market.

EOS Price Analysis Now

At the time of writing, EOS was trading at $0.077017. This indicates a 8.19% fall against the USD and a 5.33% fall against Bitcoin. The price is bearish on the 1 hour chart still below the 12 and 26 day EMAs. This is also a clear indication of a bearish trend. The trading volume is about $79,542,591 within a 24 hour period and the market capitalization is $1,996,835,331. This is according to the data on CoinMarketCapital.

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