EOS Daily Price Forecast – August 16

EOS/USD Medium-term Trend: Ranging

Resistance levels: $ 5.0, $5.5, $6.0
Support levels: $4.0, $3.5, $3.0

Yesterday, August 15th, the price of EOS was in a bullish trend. The price of the  cryptocurrency reached the high of $4.89 after it pulled back from the low of $4.33. That price was almost erased when the price fell to the low of $4.67. Today, the price of EOS is still falling. However, since August 11, the price of EOS has been fluctuating between the levels of $5 and $4. Price of EOS will continue its fluctuation between these levels until they are broken.

Nevertheless, the MACD line and the signal line are below the zero line which indicates a sell signal. Similarly, the price of EOS is below the 12-day EMA and the 26-day EMA which indicates that price is falling. Nevertheless, the Relative Strength Index period 14 is level 42 which indicate that price is in the sideways trend zone

EOS/USD Short-term Trend: Ranging

From the 1-hour chart, the price of EOS is in a sideways trend. Price of EOS is trading horizontally at a price of $4.62. Also, the price of EOS is neither below nor above the 12-day EMA and the 26-day EMA which indicates that price is in a sideways trend.

The views and opinions expressed here do not reflect that of BitcoinExchangeGuide.com and do not constitute financial advice. Always do your own research.

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