Before EOS can return to its uptrend movement, the bulls will have to increase their momentum, push the EOS price above the resistance level of $6.3 and sustain it.
Key Highlights:
- Consolidation is ongoing;
- the coin may be pushed down;
- EOS Price breaks out to the north or south is inevitable.
EOS/USD Price Long-term Trend: Ranging
Resistance levels: $6.3, $6.9, $7.5
Support levels: $4.7, $4.1, $3.4
Before EOS can return to its uptrend movement, the bulls will have to increase their momentum, push the EOS price above the resistance level of $6.3 and sustain it. Should the bears increase their pressure, the coin may be pushed down and break the support level of $4.7. EOS price is between the 10-day EMA and the 50-day EMA, which indicates consolidation is ongoing.
Moreover, the Stochastic Oscillator Period 14 on the daily chart is above level 25 (oversold region), with its signal lines pointing towards north, which means there could be a bullish movement this week towards the resistance level of $6.3.
EOS/USD Price Medium-term Trend: Ranging
The coin is on the 10-day EMA and 50-day EMA which are interlocked to each other, indicating consolidation is ongoing. In case the bulls increase their momentum, EOS price will increase towards the resistance level of $6.3. Nevertheless, the Stochastic Oscillator period 14 is above 50 levels with its signal lines pointing downward, which connotes bearish movement in case the bears increase their pressure.
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