EOS Price Analysis: EOS breaks lower but is finding some support at 2.19
|- EOS/USD trades nearly 4% lower on the session but things looked so promising earlier.
- The price broke out of the consolidation zone and is now retesting the top of the area.
EOS/USD 1-hour chart
It was all looking so good for EOS/USD earlier in the session and now the price has dipped lower. The pair is currently 4% down and looks to be testing an old resistance zone. EOS like most cryptos has suffered lots over the last month. But the daily chart rejected 1.05 on March 13th.
Looking at the MACD now the histogram just crossed the zero line to the downside. This is usually a bearish signal but can sometimes lag the price. The volume indicator is showing that more recently the buying volume is higher than the selling. But if there is a break into the old consolidation area it would be confirmed if the volume is high. If the volume is low it might be considered as a false break. The moving average is also providing some support at the moment and underneath price, the psychological 2.00 level may also help stem losses.
 (7)-637203287576683186.png){kind=link}
Additional levels
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.