EOS Price Analysis – May 4

Azeez Mustapha
  • If the asset continues its fall the demand levels will be breached.

EOS, ZECUSD, CryptoCompare chart

EOS USD Medium-term Trend: Ranging

Supply levels: $18.5, $17.0, $16.5

Demand levels: $15.5, $16.0, $16.5

Price of EOS was in a range bound movement yesterday. The EOSUSD pair was fluctuating between the resistance level at $20 and the support level at $15. The relative strength index period 14 was level 25 which indicated yesterday that the asset was oversold suggesting bulls to take control of the market. Today, price of EOS is trading at $17.07 as at the time of writing.

Today, from the weekly chart, EOSUSD is still ranging within the key levels. The asset is falling in price and heading towards the support level. Meanwhile, relative strength index period 14 is level 23 which indicates that the market is oversold suggesting bulls to take control of the market.

EOS USD Short-term Trend: Bearish

EOS, ZECUSD, CryptoCompare chart

Price of EOS is in a bearish outlook. From the price action, the asset fell from the price of $18 to $17. Then at a price of $17 it made a bullish movement to $18. The asset made a slow and steady fall to the low of $17. The 50-day moving average and 20-day moving average are trending southward. If the asset continues its fall the demand levels will be breached

 

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