EOS Price Analysis – October 27
The EOS/USD has been moving consistently within the channel. The market had broken above the 9-day and 21-day moving averages and has since continued to rise higher.
Resistance levels: $3.8, $4.0, $4.2
Support levels: $2.4, $2.2, $2.0
The daily EOS/USD is moving towards an upward formation after having a bullish session 2days ago. In the last three days, the EOS/USD has increased from $2.71 to $3.40. The price is above the moving averages. The moving average convergence/divergence (MACD) indicates that the signal line is about to cross the MACD line, indicating upward momentum.
In addition, if the EOS/USD tried to maintain its bullish trend, the bulls would reach the resistance level of $3.8, $4.0 and $4.2. But the price of the EOS should show a fluctuating movement along with the chart, which could return it to support level at $2.4, $2.2 and $2.0 respectively. Long-term buyers should not be bothered by the small impact on the road, as the future of EOS is assured.
The bearish scenario was strengthening for the EOS market before but the bulls are making attempt to take over as the market price move towards the moving averages of 9-day and 21-day. Yesterday, the EOS/BTC market has seen a significant fall in the price, with a strong rejection of price at 3394 SAT but the bulls have returned the coin to a current price of 3518 SAT which could hit the resistance at 3811 SAT and above.
On the downside, EOS could face the support level at 3100 SAT and below if the 3330 SAT fails to hold the support in case of a downward trend. The cryptocurrency has experienced significant support at the 40-level of stochastic RSI. If the signal falls below 40, we can expect a downward pressure below the channel.
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