EOSUSD Experiences a Bearish Breakout at $3.0, Targeting $2.4 Support Level

Azeez Mustapha

Updated:

Unlock Daily Forex Signals

Select a Plan

£39

1 - month
Subscription

Select

£89

3 - month
Subscription

Select

£129

6 - month
Subscription

Select

£399

Lifetime
Subscription

Select

£50

Separate Swing Trading Group

Select

Or

Get VIP forex signals, VIP crypto signals, swing signals, and forex course free for lifetime.

Just open an account with one our affiliate broker and make a minimum deposit: 250 USD.

Email [email protected] with a screenshot of funds on account to get access!

Sponsored by

Sponsored Sponsored
Checkmark

Service for copy trading. Our Algo automatically opens and closes trades.

Checkmark

The L2T Algo provides highly profitable signals with minimal risk.

Checkmark

24/7 cryptocurrency trading. While you sleep, we trade.

Checkmark

10 minute setup with substantial advantages. The manual is provided with the purchase.

Checkmark

79% Success rate. Our outcomes will excite you.

Checkmark

Up to 70 trades per month. There are more than 5 pairs available.

Checkmark

Monthly subscriptions begin at £58.

Price Analysis – December 11

Further increase in the bears’ pressure will decrease the price to the $2.4 support level; the bearish momentum may extend to $2.1 and $1.5 if $2.4 does not hold the price. However, the resistance levels above the current price can found at $2.7, $3.0, and $3.3.

Key Levels:

Resistance levels: $2.7, $3.0, $3.3
Support levels: $2.4, $2.1, $1.5

EOS/USD Long-term Trend: Bearish

EOSUSD is bearish in the long term outlook. The crypto plays along the way it was predicted last week; the bears increase their momentum and the $3.0 level was penetrated downside. The bearish momentum was extended to $2.7, the just mentioned level could not hold the price, it was penetrated and currently exposed to the support level at $2.4. Further price declination is envisaged.

EOSUSD daily chart, December 11

The coin is declining towards the support level of $2.4; the two EMAs have been penetrated downside and the coin is trading below the 9 periods EMA and 21 periods EMA. Further increase in the bears’ pressure will decrease the price to the $2.4 support level; the bearish momentum may extend to $2.1 and $1.5 if $2.4 does not hold the price. However, the resistance levels above the current price can found at $2.7, $3.0, and $3.3.

EOS/USD Price Medium-term Trend: Bearish

In the medium term, the EOSUSD is on the bearish trend. After the price retracement that took place on December 01 to the resistance level of $3.3, the bears resumed into the EOS market with increased pressure and the price started declination. The support level of $3.0 and $2.7 has been penetrated downside. The price is heading towards the $2.4 price level.

EOSUSD 4-hour chart, December 11

The 9-day EMA has crossed the 21-day EMA downward with the price below the 9-day EMA, confirming the downtrend. Should EOS price go down to the support level at $2.4 and refuse to produce a bearish candle pattern, then further downward movement may not be possible.

Note: Learn2.Trade is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
9.8
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
9
  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$250 Min Deposit
9.8
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$50 Min Deposit
9
  • Fund Moneta Markets account with a minimum of $250
  • Opt in using the form to claim your 50% deposit bonus
$250 Min Deposit
9

Share with other traders!

Azeez Mustapha

Azeez Mustapha is a trading professional, currency analyst, signals strategist, and funds manager with over ten years of experience within the financial field. As a blogger and finance author, he helps investors understand complex financial concepts, improve their investing skills, and learn how to manage their money.

Leave a Reply

Your email address will not be published. Required fields are marked *