EOS Price Analysis – October 19
EOS is being attacked by the bears just as many of the coins in the crypto market as the price goes down with its intraday movement.
Supply levels: $3.3, $3.5, $3.7
Demand levels: $2.5, $2.3, $2.1
The EOS/USD had been trying to make profits for a few days, but the sudden drop disappointed the traders. Today, the market started with a downtrend. However, a slight improvement has been felt as the coins changed and turned green early today, but the chances of getting a profitable intraday closure are much lower.
Moreover, the trading volume is becoming low and should the bear maintain the downward movement; the price may likely reach the demand levels at $2.5, $2.3 and $2.1. But if the price moves contrary to the current movement above the 21-day MA, this could take it to the supply levels of $3.3, $3.5 and $3.7 respectively. Currently, the bears are still dominant as the stochastic RSI is moving around the oversold zone.
Against Bitcoin, the price is moving below the moving average of 21-day but with a bearish candle trying to break down the lower boundary of the channel. The stochastic RSI is at the oversold which could still inject more bearish signals into the market. A possible drop may surface and the demand levels to watch are 3200 SAT and 3000 SAT.
However, any form of a rebound from the above-mentioned supports could push the EOS price to the supply level of 4000 SAT and beyond. But the buyers may have to gather enough momentum to be able to push the price to the north. More so, the trading volume is still very low but may start rising once the technical indicator turns upward.
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