EOS Price Continues On A Sideways Trend In Range 

The month of September is over and it was characterized mainly by significant price movements between upper and lower ranges of the price of cryptocurrencies. October started yesterday and today is the beginning of a new week. EOS spent majority of last week trading in range against the USD on a sideways pattern. The price moved as low as $5.39 and started moving in range between $5.39 and $5.75. Will EOS break this sideways range pattern this week or will or continue to trade sideways against the USD and Bitcoin?

EOS Price Today – EOS / USD

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Name Price24H (%)
EOS (EOS)
$5.42
1.09%

This price of EOS is trading in range with support levels at $4.0, $4.5, $5.0 and resistance levels at $7.0, $6.0, $6.5. This might not be the best time to make long term trades in the market. It’s never a good ideas to throw in capital when a cryptocurrency is trading in range. It’s always better to wait for a breakout or break through before making commitments.

From the technical charts, the zero line is below the signal line and the MACD line. This is a typical buy signal. The price is hovering near the 12 and 26 day EMAs but it is neither below or above either of them. This is an indicator of a sideways trend. The period 14 relative strength index was at 50 this morning to show that the price is still trending sideways in range.

EOS Short-term Price Analysis

At the time of writing, the price of EOS was still trending sideways on the hourly chat. The MACD and signal lines short-term were also below the zero line. This means that the short-term trend is in favor of the sellers. At the time of writing, EOS was trading at $5.69. This indicates that there is a 0.05% rise in price against USD and a 0.48% rise in price against Bitcoin. It also means that the bulls are trying to breakout short-term and put the price action in favor of the buyers.


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