EOSUSD Is Range – Bound Within $4.3 and $3.6 Levels

EOSUSD Is Range – Bound Within $4.3 and $3.6 Levels

Price Analysis – March 25

A further increase in the bears’ momentum may break down the support level of $3.6, and the price may test the $2.2 and $0.5 levels. In case the bears are unable to break down the support level of $3.6, the price may face the resistance levels at $4.3, $5.4, and $6.8 as the target.

Key Levels:

Resistance levels: $4.3, $5.4, $6.8

Support levels: $3.6, $2.2, $0.5

EOS/USD Long-term Trend: Bearish

EOSUSD is bearish in the long-term outlook. After the price rejection at the resistance level of $5.4, the price fall continuously to $3.6 price level. The just mentioned level hold the price and the crypto could not penetrate the level. That contributes to the ranging movement of the coin within $4.3 and $3.6 price levels. The bears are trying to break down the support level of $3.6.

EOSUSD Daily chart, March 25

At the moment, price is trading below the 9 periods EMA and the 21 periods EMA while the two EMAs are interlocked to each other. A further increase in the bears’ momentum may break down the support level of $3.6, and the price may test the $2.2 and $0.5 levels. In case the bears are unable to break down the support level of $3.6, the price may face the resistance levels at $4.3, $5.4, and $6.8 as the target. The bearish trend may continue as the relative strength index period 14 is bending down at 40 levels which indicates a sell signal.

EOS/USD Price Medium-term Trend: Bearish

EOSUSD is bearish on the 4 – hour chart. The coin has been range-bound within the resistance level at $4.3 and the support level at $3.6 for many weeks. Yesterday, the bears were ready to break down the support level at $3.6 with the formation of strong bearish candle but the level holds the price.

EOSUSD 4-hour chart, March 25

The price is trading below the 9 periods EMA and the 21 periods EMA. The relative strength index is bending up at 30 levels to indicate a sell signal.

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Author : Azeez Mustapha

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Azeez Mustapha is an experienced author, trader, markets analyst, signals strategist, and funds-manager.