TL; DR Breakdown

  • The five-day EOS price analysis chart began in bullish momentum. 
  • At the time of writing, the bears seem to have invaded the market, making the prices trade downwards.
  • The MACD line has crossed below the red signal line meaning the EOS/USD market is controlled by sellers.

EOS price analysis: General rice overview

The five-day EOS price analysis chart began in bullish momentum. The bulls had dominated the crypto market, sending the prices upwards in a rising wedge trend.

The Bollinger bands are very narrow on the 5-day EOS price analysis chart, implying that the coin has low volatility hence the narrow Bollinger bands. EOS/USD price is lying near the upper band, meaning that the coin is showing a slightly bullish trend.

The 20-day Moving Average has crossed above the 200-day Moving Average, suggesting EOS/USD price is moderately optimistic in certain areas on the 5-day price chart. Despite being bearish, buyers have not yet been entirely driven out of the market; nevertheless, they are now in it but at a reduced number than sellers.

The green bars on the five-day EOS price analysis chart are more than the red bars, indicating that buying pressure exceeds selling. 

EOS price movement in the last 24 hours: Bull dominance

The buyers took control of the market towards the closure of yesterday’s price analysis chart sending the price to the intraday highs. However, this positive trend was cut short as soon as the daily EOS price analysis chart set in while the sellers forced the coin to trade in a bearish momentum to the intraday lows of $4.6.

EOS/USD Four-hour price analysis chart: EOS/USD bearish trend

The EOS/USD is trading slightly below the 20-day Moving Average; it has been trying to go past the 20- MA; however, it has not been successful yet.

EOS price analysis: EOS/USD to hit $5.5 in the next 24 hours 1

Source: Tradingview

At the time of writing, the bears seem to have invaded the market, making the prices trade bearish.

The MACD line has crossed below the red signal line meaning that the sellers control the market. However, the bulls seem to be coming back soon as the MACD line points towards the red signal line suggesting a possible crossover in the next few hours.

The RSI indicator is in the oversold region on the four-hour EOS price chart, with an RSI reading of 29, and seems to be heading towards zero. There will be little opportunity for buyers to reverse the bullish trend if the RSI falls below 20.

EOS price analysis: Conclusion

On the one-hour EOS price analysis chart, the bulls seem to be getting momentum. There is a strong possibility of the coins surging to $5.5 in the next few hours if the bulls regain their strength in the next trading hours.

Source: cryptopolitan.com

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