- EOS price analysis shows bearish momentum as the resistance drops to $5.493.
- Support is found at the $4.81 price value.
- EOS price analysis shows surprising results in today’s charts.
From the 1-day and 4-hours EOS price analysis, strong bearish momentum has been found, despite the bulls being at the upper hand previously. The selling parties have overpowered the market with a greater tendency towards selling their assets. This scenario has resulted in a decrease in price levels to $5.49 value, with the support levels observed to be $4.8 for today.
EOS price analysis: 24-hours candlestick chart displays bearish activity with $5.62 resistance
The daily EOS price analysis is giving the bears a lead as the price levels drop to $5.519 after a strong bullish uphold. This has surprised the analysts, and turned many towards the selling side, after the sudden shift in the market trend. The calculated moving average (MA) over the past week has been $4.98 which has been going above during the past week. The average price value of the Bollinger bands (BB) is present at the $4.50 mark.
The Relative Strength Index (RSI) is showing the score at 75.22 which has crossed the over-bought limit, as the past week has been favorable for cryptocurrency. The volatility for the candlestick chart is gradually increasing, as the upper band reaches the value of $5.63 and the lower one stoops to $3.38 of level.
EOS/USD 4-hour chart: tremendous fall in price happened today, down to $5.6
The 4-hours EOS price analysis is showing a sharp drop in the EOS coin value until it stopped descending at $5.61. The weekly analysis, however, tells that the buyers have dominated the market and helped the cryptocurrency rise slowly. Yet, today’s case has proved to be different, as the Moving Averages (MA) have lowered to $5.54. The future trends can be negative for the buyers, as the volatility is increasing in the candlestick chart.
The RSI score is 61.89 in the 1-day chart, which may arise in the future depending upon the circumstances. Meanwhile, the values surrounding the Bollinger bands are as follows; the upper value is at the $5.91 mark whereas the lower value is present at the $4.80 mark.
The past few weeks have been taking the price levels to a new high each day, which can be observed from the technical indicators chart. The summary is revealing that the pointer is inclined towards the bullish side, with seven indicators as neutral, five at sell, and the remaining 14 standing at buy signal. The moving average indicators are also indicating the trend observed during the day, which has been mostly bullish. There are thirteen indicators at the buying point, one indicator as neutral whereas the remaining indicator is present at the selling point.
However, the most recent trend has reversed the scenario and is towards the sellers’ side. There are a total of four indicators at the selling mark, six at the neutral position while one is at the buying position, respectively.
From the above EOS price analysis, it can be inferred that today’s trend has proved to be fatal for the buyers as the price levels reduce to an alarming value of $5.5193. Both the 1-day and 4-hours price charts have been showing strong support for cryptocurrency, yet couldn’t overcome the huge blow from the bears.
The support levels have also lowered to a level of $4.80, which if maintained, can cause improvement in price. The RSI score was just near 70, but it can be taken further above if the resistance levels rise above $5.91.
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