The EOS price has bounced from the $5.5 mark, and the price trend has continued as discussed in the previous price analysis. DLavrov, the trading view analyst is of the opinion that this is the right time for buying the cryptocurrency. The crypto analyst discusses the idea by combining long term trading and swing trading.
1-Day EOS Price Analysis (15th – 16th February)
As discussed earlier, the cryptocurrency has returned below the $4.6 mark after bouncing off the resistance placed at $5.5 on the price chart for the 15th of February. EOS has a day’s range of $4.372 — $4.390, and the Relative Strength Index (RSI) rests at 48.95.
The 20-Day Exponential Moving Average (EMA) closed at $4.393, whereas the 50-Day Moving Average (MA) was observed at $4.397 at the time of writing. The bounce-off from the $5.5 mark led to a bearish momentum, that took the price to its current trading value of $4.404 US Dollars.
EOS price: Predictive Analysis
The price has reached the support area that is formed by the $4.50 level and the uptrend line placed here. In terms of longterm trading, the capital can be invested in this area. Though if the price breaks through this support, the cryptocurrency is expected to fall to $3.7 as per the prediction. The price reversal from this area may be used to increase the trade volume.
If the Bitcoin support moves to the $8000 support, the EOSUSD might fall towards $3.0. This zone will be ideal for buying in terms of all sorts of trading.
Featured Image by Marc-Olivier Jodoin.
Disclaimer: The information provided is not trading advice but an informative analysis of the price movement. Cryptopolitan holds no liability towards any investments based on the information provided on this page.