EOS May Commence Bullish Trend

Bulls’ momentum is increasing – Bullish Trend

EOSUSD Price Analysis – November 03

The Crossing of EOS above the resistance level of $1.37 may lead the price to $1.48 and $1.65 price level, and that is bullish trend. Failure to cross above the $1.37 level may decrease the price towards $1.10, $0.94, and $0.75 support level.

EOS/USD Market

Key Levels:

Resistance levels: $1.37, $1.48, $1.65

Support levels: $1.10, $0.94, $0.75

EOS/USD Long-term Trend: Bullish Trend

EOS/USD is bullish in the daily chart. The price action on the daily chart has formed a bullish chart pattern called “Double bottom” and this has made the price to incline towards the resistance level of $1.37. It was pushing back yesterday and moving towards the support level of $1.10 today with the formation of daily bearish candle.

The price is trading above the two EMAs where the 9 periods EMA is above 21 periods EMA which indicates that the bulls are holding to the EOS market. The Relative strength Index period 14 is pointing up at 54 level displaying a bullish direction indicate that price may increase. The Crossing of the price above the resistance level of $1.37 may lead the price to $1.48 and $1.65 price level. Failure to cross above the $1.37 level may decrease the price towards $1.10, $0.94, and $0.75 support level.

EOS/USD Price Medium-term Trend: Bullish

The coin is bullish on the medium-term outlook. The price formed “M” shape on the 4-hour chart. The pattern is bearish. The price decline and tested the previous low at $0.94 level. This is the second time the price is touching the mentioned level. There is tendency that bulls will take over the market soon.

The 9-day EMA and the 21-day EMA are interlocked to each other and the price is trading around the two EMAs which connote low bullish momentum in the EOS market.

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