- The EOS price analysis updates shows a decrease in price.
- Bears have downgraded the price to $5.1 today.
- The resistance at $5.2 still remains to be crossed.
The EOS price analysis is showing an uprising bearish momentum, which has resulted in a downtrend for the price. The bears have overcome the building bullish momentum, and have brought the price down to $5.11.
The coin value has decreased slightly, and if the bearish momentum intensifies further then the price can lower even further. However, equal chances for the bulls stand as well, as they have been at lead previously and still the upgoing trend has not reversed yet.
EOS/USD 1-day price chart: Bullish momentum gains slight upper hand
The 1-day EOS/USD price chart is displaying encouraging results for the cryptocurrency, as the bulls are taking the lead at present. The bulls have significantly increased the price to $5.11, after successive attempts at overcoming the bearish obstacles.
The Moving Average (MA) as seen from the chart is present at $5.01 which is below the price value as the bullish momentum has been quite considerable.
The volatility is gradually decreasing, which means that positive news can be expected in the future. The Bollinger bands also stand important in predicting the upcoming trends and their values are as follows; the upper band is at $5.71 and the lower band is at $4.7. The Relative Strength Index (RSI) score is also on the rise and has reached the number of 53.43 today.
EOS price analysis: Bearish momentum crosses overs Bullish uptrend
The 4-hours EOS price analysis showing a slight decline in the price today, as the cryptocurrency value has decreased up to $5.11. The price still stands above the moving average which is $5.03, because of the outgrowing bullish momentum that happened in the past hours. The volatility is increasing slowly, meanwhile, the Bollinger bands average is present at $5 at the time of writing.
Moreover, the upper Bollinger band has reached $5.15 while its lower band has stooped to $4.83 of value. The RSI score has also decreased to 56.61, which is still a positive figure considering the dominant trend in the past hours has been bullish.
The EOS/USD technical indicators chart is giving us a slightly bullish signal, as the overall trend for the day has been in the favor of the buyers. There are a total of 26 indicators, out of which 13 are at the buying position, eight at neutral, and five at the selling position.
The moving averages indicator dictates the trends that have taken place over the past few weeks, and related the average price value. Therefore, it is giving a strong bullish signal, as the bulls have been dominating in the past week, with 11 indicators at the buying position, three at selling, and one at a neutral position.
The oscillators are going neutral, as today the bears have tried to hold a competition, and there are seven indicators at the neutral spot, and two indicators each stand at selling and buying spots.
EOS price analysis conclusion
From the given 1-day and 4-hours EOS price analysis, it can be inferred that the most recent development has been in favor of the bears. The price has dropped down to $5.1 today, as the bears have been able to regain some momentum.
The support is still standing strong at the $4.83 point, which is why there is little possibility of the price going drastically low. In addition, if the bulls regain their strength, then there is an avid chance that the price will go across the resistance level i.e. $5.16.
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