EOS Price Analysis – March 30
The bears may break down the support level of $2.0 provide the level does not hold. In case the mentioned level holds, the price may consolidate further.
Resistance levels: $2.6, $2.8, $3.0
Support levels: $1.7, $1.5, $1.3
The daily chart reveals that EOS/USD is changing trend slowly on the long-term outlook. The cryptocurrency was range-bound within the resistance level of $2.3 and the $2.1 price level for some time now. The bears may likely break down the former support level of $2.0 at a slow rate.
More so, the trading volume is low and should the bear push the price downward; the price could reach the support levels at $1.7, $1.5, and $1.3. In other words, if the price moves contrary to the current movement above the 9-day and 21-day moving averages, the price could hit the resistance levels of $2.6, $2.8 and $3.0 respectively. The RSI (14) moves to test the 40-level, which may give bullish signals in the coming days.
Against Bitcoin, the price is moving below the moving average of 21-day MA but with a bearish candle trying to break down the 9-day MA within the channel. The RSI (14) is moving below the 40-level which could still bring more bearish signals into the market. A possible drop may surface and the support levels to watch are 320 SAT and 310 SAT.
However, any form of a rebound from the above-mentioned supports could push the EOS price to the resistance level of 390 SAT and above. But the buyers may have to gather enough momentum to be able to push the price to the north. More so, the trading volume is still very low but may start rising once the technical indicator turns upward.
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