EOS Price Analysis – July 3
As the daily chart reveals, the EOS price may recover its loss but the coin is yet to cross above the $1.0 level.
Resistance levels: $1.5, $1.7, $1.9
Support levels: $0.5, $0.3, $0.1
EOS/USD is currently trading at $0.91 after the price was rejected at $0.94. Meanwhile, the coin may cross below the 9-day and 21-day moving averages if bears put more pressure on the market. Looking at the daily chart, it seems that traders may need a little patience to enjoy some returns in the market soon.
EOS Price Analysis: Where is EOS Price Going Next?
The EOS bulls are likely to push the price above the 9-day and 21-day moving averages to build the upside momentum by focusing on the resistance level of $1.0, any further bullish movement could hit the potential resistance levels at $1.5, $1.7, and $1.9 respectively. On the downside, the initial support may be located at $0.5, $0.3, and $0.1 if the coin heads to the downside. Moreover, the market may continue to move sideways if the technical indicator Relative Strength Index (14) moves in the same direction around the 40-level.
EOS/BTC Market: Price Stays Above the Moving Averages
Against Bitcoin, the EOS price is changing hands at 48 SAT, and it is currently trading above the 9-day and 21-day moving averages. The technical indicator Relative Strength Index (14) suggests that the price may face the downside as the signal line moves to cross below the 60-level. Meanwhile, any bullish cross above the upper boundary of the channel may locate the resistance level at 58 SAT and above.
However, if the sellers bring the market price beneath the moving averages, the next level of support could be found at 40 SAT and below. More so, the trading volume is fading out while the red-line of 9-day MA remains above the green-line of 21-day MA, suggesting a more bullish movement in the market.