Evmos Price Analysis: When will EVMOS Crypto Oppose its Bearish Rally?

Evmos price has been trying to attain sustainability below the symmetrical triangle pattern over the hourly chart.
EVMOS crypto has fallen below the 20, 50, 100, and 200-day Daily Moving Average.
The pair of EVMOS/BTC is at 0.0001178 BTC with an intraday drop of 6.72%.

On the hourly price chart, the EVMOS coin price is moving strongly downward. Following a test of the $3.34 resistance level, the token began its bearish rise. The resistance level of $3.34 for EVMOS cryptocurrency has been repeatedly broken because bulls were unable to hold, and as a result, EVMOS rallied bearishly. To stay at the present price, EVMOS must find new customers, and it must work to keep the bullish trend of the coin alive. Investors in EVMOS must watch for a big comeback and any shift in direction on the hourly chart.

EVMOS’s estimated current price is $2.09, while on the day prior, its market value fell by 8.05%. However, trading volume climbed sluggishly by 11.35% during the intraday trading session. This demonstrates that the EVMOS coin market isn’t performing as expected even if buyers are lured to it, and the accumulation rate needs to be increased.

On the hourly price chart, the EVMOS coin price is moving strongly downward. To turn around the trend of the EVMOS coin, the token must attract purchasers. In the meantime, the volume change is below normal and needs to increase. Bulls on EVMOS must speed up accumulation to stop the token from plummeting.

Technical Indicators Point EVMOS Being Overbought

The decreasing velocity of the EVMOS cryptocurrency is shown by technical indicators. The relative Strength Index shows the downward motion of the EVMOS coin. The RSI is circling inside the overbought zone at 22, which is 22. The EVMOS coin’s negative momentum may be seen on the MACD. While waiting to cross over to the positive side, the MACD line is located below the signal line. Investors in EVMOS need to keep an eye on the hourly chart for any changes in trend.

Conclusion

On the hourly price chart, the EVMOS coin price is moving strongly downward. Following a test of the $3.34 resistance level, the token began its bearish rise. The resistance level of $3.34 for EVMOS cryptocurrency has been repeatedly broken because bulls were unable to hold, and as a result, EVMOS rallied bearishly. To stay at the present price, EVMOS must find new customers, and it must work to keep the bullish trend of the coin alive. In the meantime, the volume change is below normal and needs to increase. Bulls on EVMOS must speed up accumulation to stop the token from plummeting. The MACD line is below the signal line and is waiting to cross over to the positive side. Investors in EVMOS must watch the hourly chart for any directional changes.

Technical Levels

Support Levels: $2.00 and $1.95

Resistance Levels: $2.50 and $3.00

Disclaimer

The views and opinions stated by the author, or any people named in this article, are for informational ideas only, and they do not establish any financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.

Andrew is a blockchain developer who developed his interest in cryptocurrencies while his post-graduation. He is a keen observer of details and shares his passion for writing along with being a developer. His backend knowledge about blockchain helps him give a unique perspective to his writing