EOS price has not seen any action in the past few days and trades sideways with the price running near the three dollars mark ($3).
The bears have left EOS to work its way around and the bulls are not taking advantage of the situation owing to the lack of a bottom mark.
EOS trades at two dollars ($2.836) at the time of writing while the twenty-four (24) hour volume sums up to be one billion dollars in fiat ($1,610,882,769). The market cap for EOS is at two billion dollars ($2,913,257,391).
EOS price running short on bulls
The relative strength index (RSI) is not giving a near-bullish expression. The RSI has been run into the ground and that is why the bulls are refraining from selling as the short-term will see EOS having made friends in the oversold territory.
Both the exponential moving average (EMA) and the simple moving averages are above EOS with the EMA running close to the downward trend line. The first resistance mark that EOS will have to break is at three dollars ($3.1534), EOS will have the momentum to make it to the four dollars ($4) territory in the long run. There, we have a resistance waiting for EOS at $4.8719 and the bulls will need to work hard to keep EOS above the three dollars ($3) territory once it is out of it.
EOS will have a problem moving upwards with the price being rejected from the 3.1534 dollars mark. The downtrend will introduce two dollars ($2.5) and $2.20 as support mark for EOS. Further down on the support mark list, we have the one-dollar ($1.55) mark that is strong support.
Buying is not currently an option for EOS traders. The recommended move right now would be to wait until the price has broken above the 3.1534 dollars mark which will signal the end of downwards movement.