• EOS/USD went down from $5.83 to $5.31 this Thursday as the entire crypto market takes a plunge.
  • Bulls need to defend support level at $5.12 to prevent any further downward movement.

EOS/USD went down from $5.83 to $5.31, charting an 8.75% drop in value. Bulls need to rally together to protect support level at $5.12. If they can’t do so, then EOS/USD may fall below $5 for the first time since April 2nd. 

EOS/USD Daily Chart

  • The EOS/USD daily chart has been trending inside a channel before having a bearish breakout.
  • The support level at $5.45 broke and the price is currently trending at $5.31.
  • The market is trending above the 20-day simple moving average (SMA 20), SMA 50, and SMA 200 curves. 
  • The price is still trending inside the upper half of the Bollinger band which means that despite the sharp bearish movement, its overall sentiment isn’t strongly bearish, for now.
  • The relative strength index (RSI) indicator has taken a turn below and is looking to move out of the overbought zone.
  • The latest session of the Elliot wave is bearish after nine consecutive bullish sessions. This gives us an indicator as to how exceedingly sharp the most recent bearish movement was.
  • The signal line has taken a turn and is looking to converge with the moving average convergence divergence (MACD) line in the MACD indicator. This shows that bullish momentum is decreasing.
     

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.

Cryptos feed

Latest Crypto News & Analysis

Editors’ Picks

Sellers come in ahead of 10,500

BTC/USD sells of late in the session as we draw to a close on an eventful day in the financial markets. We were expecting Fed Chair Jerome Powell to be the main event of the session but China announced plans to add tariffs to US imports. Then Powell once again stood firm against Trumps pressure to loosen monetary policy and the US President lost it on twitter. 

More Bitcoin News

XRP pushes to session highs but a key level is in sight

XRP/USD pushes to session highs. Key resistance level is in sight. 0.300 still seems the like the long term target for bulls.

More Ripple News

BCH/USD: 300 is well supported once again

Bitcoin Cash has rejected downside moves yet again. Key trendline apex needs testing soon. 360 is still the level to breach for upside momentum.

More Bitcoin Cash News

NEO announces new partnership with gumi Cryptos bringing blockchain to Japan

NEO Foundation has announced a new partnership with gum Cryptos. The two organisations will be working on bringing blockchain technology to Japan. 

More Neo News

BEST CRYPTO BROKERS/EXCHANGES

Bitcoin Weekly Forecast: Safe-haven or a high-yield asset? Bitcoin qualifies for both

The cryptocurrency market has been a mixed picture this week. Bitcoin attempted to settle above $12,000 practically every single day of the week...

Read the weekly forecast

BTC

ETH

XRP