EOS Technical Analysis: EOS/USD tries to find support near $7.5, stays in oversold area
- EOS/USD extends losses for the third straight day amid the negative sentiment surrounding cryptocurrencies.
- The RSI indicator on the 4H chart stays near 20, suggest that a technical correction could be underway.
Spot rate: 7.5200
Relative change: -3.3%
High: 7.7800
Low: 7.3250
Trend: Bearish
Support 1: 7.3250 (daily low).
Support 2: 6.9500 (Jun. 24 low/psychological level).
Support 3: 6.4500 (Dec. 12 & 19 low).
Resistance 1: 7.9500 (Fib. 61.8% retracement of Jun. 29 - Jul. 4 rise).
Resistance 2: 8.0000 (psychological level/horizontal support).
Resistance 3: 8.6500 (50-period SMA on 4-hour chart).
Author
Eren Sengezer
FXStreet
As an economist at heart, Eren Sengezer specializes in the assessment of the short-term and long-term impacts of macroeconomic data, central bank policies and political developments on financial assets.
