EOS Price Analysis – March 17
The EOS price saw a downfall yesterday by falling below $1.750 level but today, it saw a retracement towards the $2.0 level.
Resistance levels: $3.0, $3.2, $3.4
Support levels: $1.0, $-0.8, $-0.6
As the market opens today, EOS/USD started an upward movement and the price line eventually retreated to the $2.0 level. At the time of writing, we have seen the coin recovering as it trades at $2.025 level with a rise of 6.58%. Moreover, the daily chart shows that EOS/USD was seen trading upwards and moving towards the 9-day moving average.
However, if the price of EOS rises again and breaks the $2.5 resistance level, the coin may continue its upward movement to retest the previous high at $3.0, $3.2 and $3.4 resistance levels while the support levels to watch for are $1.0, $-0.8 and $-0.6 respectively taking the coin into the negative side for the first time this year as the RSI (14) moves within the oversold zone.
Against Bitcoin, the market price still keeps falling down but now trading around the lower boundary of Bollinger bands within the descending channel. At the time of writing, EOS/BTC is trading at level 369 SAT under the 9-day moving average to continue the downward trend. Looking at the daily chart, one can easily say that the market is indecisive as it moves in sideways.
However, the coin may experience a long-term surge in volatility as soon as the market decides the next direction. From above, the nearest resistance to look out for is 420 SAT and above, should the price rolls back to the downside, the 330 SAT and below may provide supports for the market. The RSI (14) moves below 40-level as bearish signals may continue to show face.
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