Bulls’ momentum decreases In EOSUSD market
EOSUSD Price Analysis – August 18
The Crossing of the EOSUSD above the resistance level of $1.6 may lead the price to $1.9 and $2.1 price level. Failure to cross above the $1.6 level may decrease the price towards $1.4, $0.8, and $0.7 support level.
Resistance levels: $1.6, $1.9, $2.1
Support levels: $1.40, $0.8, $0.7
EOS/USD Long-term Trend: Bullish
EOS/USD is bullish in the daily chart. The price action on the daily chart has formed a bullish chart pattern called “bullish cross” and this has made the price to incline towards the resistance level of $1.6. It was pushing back yesterday and moving towards the support level of $1.4 today with the formation of daily bearish candle.
The price is trading above the two EMAs where the 9 periods EMA is above 21 periods EMA which indicates that the bulls are holding to the EOS market. The Relative strength Index period 14 is pointing up at 60 level displaying a bullish direction indicate that price may increase. The Crossing of the price above the resistance level of $1.6 may lead the price to $1.9 and $2.1 price level. Failure to cross above the $1.6 level may decrease the price towards $1.4, $0.8, and $0.7 support level.
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EOS/USD Price Medium-term Trend: Bullish, Buyers Accepting Tamadoge
The coin is bullish on the medium-term outlook. The price has been moving upward with the formation of more bullish candles after the formation of the bullish engulfing candle pattern, which indicates that bulls were in control of the price last week. Looking at the resistance level of $1.6, the price is carrying out retracement towards the support level of $1.40.
The 9-day EMA and the 21-day EMA are separate from each other and the price is trading betwen the two EMAs which connote pullback in the EOS market.
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