Eos technical analysis: EOS/USD drops below $4 following two straight bearish days
- EOS/USD is priced around $3.94 in the early hours of Friday.
- Elliott Oscillator shows two straight bearish days.
EOS/USD daily chart
Over the last two days, EOS/USD has dropped from $4.09 to $3.94. The bulls have struggled to overcome resistance at $4.10 over the previous five days. The price is trending above the 50-day Simple Moving Average (SMA 50) and SMA 20 curves. The SMA 20 is also looking to cross over the SMA 50 curve, which is a bullish sign. The Elliott Oscillator has had two straight bearish sessions.
EOS/USD four-hour chart
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The four-hour chart has found support at the upward trending line and the SMA 50 curve. On the upside, the resistance lies at the $3.97 line. The price is trending in the lower half of the 20-day Bollinger Band. The Moving Average Convergence/Divergence (MACD) indicator shows decreasing bearish intensity.
EOS/USD hourly chart
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The hourly chart is trending below the green Ichimoku cloud. This Thursday, the price dropped till the $3.86 support level and then spiked up to $4. The bulls lost their momentum and then dropped down to $3.89, before finally settling around $3.94.
Key Levels
Author
Rajarshi Mitra
Independent Analyst
Rajarshi entered the blockchain space in 2016. He is a blockchain researcher who has worked for Blockgeeks and has done research work for several ICOs. He gets regularly invited to give talks on the blockchain technology and cryptocurrencies.
