EOS Price Analysis – October 18
EOS/USD is recovering slightly after the recent sell-off as the market sentiments are still dominated by bears.
Resistance levels: $2.8, $3.0, $3.2
Support levels: $2.3, $2.1, $1.9
EOS/USD is now trading below both the 9-day and 21-day moving averages with a mild positive bias. Despite slow movements during the early hours of today, the coin is managing to recover from its lows with a gain of 0.79%. EOS ranks fourteenth on the cryptocurrency market with a current market value of $2.39 billion as the coin is changing hands at $2.54.
Where is EOS Price Going Next?
EOS/USD remains within the symmetric triangle as the trading volume is becoming low and if the bears keep following the downward trend; the price may likely reach the support levels at $2.3, $2.1, and $1.9. Meanwhile, if the market price crosses above the moving averages, the bulls could push the EOS towards the potential resistance levels of $2.8, $3.0, and $3.2 respectively. Currently, the EOS price is moving sideways as the technical indicator RSI (14) remains above the 40-level.
EOS/BTC Market: Keeps Following the Downtrend
Against Bitcoin, EOS keeps trading below the 9-day and 21-day moving averages with some bearish candles focusing on the downward trend. The technical indicator RSI (14) nosedives below 35-level which could increase the selling pressure. However, any further bearish movement could push the coin towards the 205 SAT, 200 SAT, and 195 SAT.
However, any form of a rebound from the above-mentioned support could lead the coin to a 240 SAT resistance level and above. Moreover, breaking below the channel may send the EOS price into a more bearish zone as the trading volume confirms the bearish movement.