EOS Price Analysis – November 8
The EOS price has been struggling for a long time to have a defined growth as the market trades below the moving averages.
Resistance levels: $3.6, $3.7, $3.8
Support levels: $3.2, $3.1, $3.0
The EOS price movement is not very impressive as it was earlier this year. The coin managed to climb up to $8.5 and gave the traders hope that it would go even further. However, the coin is quickly under pressure from the market and begins to fall. The current market movement reflects fluctuations.
Moreover, if the EOS/USD tried to follow a bullish trend, the bulls may reach the resistance level of $3.6, $3.7 and $3.8. But if the price of the EOS should show a fluctuating movement and remain under the 9-day and 21-day moving averages, the bears could drag it to the support level of $3.2, $3.1 and $3.0 respectively. Meanwhile, the stochastic RSI is still moving within the oversold territory, which indicates that a bullish-run may come into play.
Against Bitcoin, the EOS price is moving above the moving averages of 9-day and 21-day but with more bullish candles. The stochastic RSI moves towards the overbought which may soon halt the bullish movement of the coin and suggest a possible drop; 3750 SAT and 3650 SAT supports are in view.
Moreover, a rebound from the above supports could send the EOS price to 4000 SAT and 4050 SAT resistance levels. But it’s likely that a possible drop from the mentioned supports could surface to drag the price into a new low which may likely send the market into a bearish zone.
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