EOS Price Analysis – January 9
EOS/USD 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.
Resistance levels: $3.0, $3.1, $3.2
Support levels: $2.5, $2.4, $2.3
A few days ago, the EOS/USD had been trying to make profits, but the sudden drop disappointed the traders. Today, the market continued 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 support levels at $2.5, $2.4 and $2.3. But if the price moves contrary to the current movement above the 9-day and 21-day moving averages, this could take it to the resistance levels of $3.0, $3.1 and $3.2 respectively. Currently, the bears are still dominant as RSI (14) indicator is moving below the 60-level.
Against Bitcoin, the price is moving below the 9-day and 21-day moving averages but with a bullish candle trying to break above the moving average within the channel. The stochastic RSI is moving towards the oversold zone which could still inject more bearish signals into the market. A possible drop may surface and the support levels to watch are 3300 SAT and 3200 SAT.
However, if the bulls continue to move in an upward trend, they could push the EOS price to the resistance level of 3600 SAT and above. The bulls may have to gather enough momentum to be able to push the price to the north. More so, the trading volume is coming up slowly and may start rising once the technical indicator turns upward.
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