EOS Price Analysis – December 28
The recent market ranging was annoying. Some coins, including Bitcoin (BTC), could not recover out of it but the EOS has shown a remarkable improvement.
Supply levels: $2.9, $3.0, $3.1
Demand levels: $2.3, $2.2, $2.1
EOS/USD had a terrific week as there were days when the coin was falling; also, we have seen the coin recovering. There were also a few days when the momentum of EOS was stable. The coin now made the traders experience the adventure of trading in the crypto market. Moreover, after everything, EOS was seen trading upwards and moving above the 9-day and 21-day moving averages as the market opens today.
Looking at the daily chart, the coin is changing hands at $2.63 where it faces up. If the price of EOS moves further and breaks the $2.7 resistance level, the coin may likely retest the previous resistance levels of $2.9, $3.0 and $3.1 while the support levels to watch for are $2.3, $2.2 and $2.1 respectively giving a low trading volume as the RSI (14) moves above 50-level.
A few days ago, EOS/BTC crosses above the 21-day moving average with a strong bullish candle and has since been trading above the moving averages; touching 3632 SAT high in the last few hours. The next key resistance level could be the 3700 SAT as the RSI (14) moves towards 60-level which could suggest more possible upward trends; 3750 SAT and 3800 SAT resistance levels are in view.
Meanwhile, a reversal from the above resistance could bring the EOS price to the support level of 3500 SAT and below. But come to think of it, breaking the mentioned support may drop the price to the new low of the month which may likely send the coin into a bearish zone. However, the trading volume still confirms the bullish movement.
Please note: Cryptovibes.com is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results.