EOS Price Analysis – April 11
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: $2.0, $1.9, $1.8
Since a few days ago, the EOS/USD had been trying to make profits, but the sudden drop of 2days ago 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 downtrend; the price may likely reach the support levels at $2.0, $1.9 and $1.8. 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 around the 48-level.
Against Bitcoin, the market price still keeps falling down but now trading around the 9-day and 21-day moving averages within the descending channel. At the time of writing, EOS/BTC is trading at 361 SAT to continue the downward trend. Looking at the daily chart, one can easily say that the market is bearish.
However, the coin may experience a long-term surge in volatility as soon as the market moves below the moving averages. From above, the nearest resistance to look out for is 390 SAT and above, should the price rolls to the downside, the 330 SAT and below may provide supports for the market. The RSI (14) moves below 48-level as bearish signals may continue to show face.
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