EOS Price Analysis – September 1
The recent market drop was pretty terrifying. Some coins, including Bitcoin (BTC), could not recover out of it. However, EOS has shown a remarkable improvement.
Supply levels: $3.8, $4.0, $4.2
Demand levels: $2.7, $2.5, $2.3
EOS had a terrific week. There were days when the coin was falling. Also, we have seen the coin recovering. There were also some days when the momentum of EOS was stable. The coin made traders experience the adventure of trading in the crypto market. Moreover, after everything, EOS was seen trading upwards and moving towards the 21-day MA as the market opens today.
Currently, the coin is changing hands at $3.25 where it faces down. More so, if the price of EOS rises again and breaks the $3.4 resistance level, the coin will continue its upward movement to retest the previous high. The nearest resistance levels to reach are $3.8, $4.0 and $4.2 while the support levels to watch out for are $2.7, $2.5 and $2.3 respectively giving a low trading volume as the stochastic RSI escapes from the oversold zone.
Against Bitcoin, the market price still keeps falling down but about to break down the lower line of the channel. As at the time of writing, EOS/BTC is trading at level 3319 SAT and moving under the 21-day moving average to continue the downtrend. Looking at the chart, one can easily say that the market is indecisive as it moves in sideways.
Nevertheless, we can expect a long-term surge in volatility to play out as soon as the market decides the next direction. From above, the nearest resistance to look out for is 3650 SAT and above, should the price rolls back while for the downside, the 3100SAT and below may provide supports for the market. The RSI (14) moves below 40 as bearish signals may show face.
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