EOSUSD is on a rebound since the December low and is testing today the September Resistance.
Levels to watch:
- The Resistance is at 4.2550 while the Support at 2.1200.
- The price is already above both the MA50 and MA200.
- The MA200 is in fact providing Support, keeping the price sideways within the trend line and the Resistance.
- The RSI is on a bearish divergence and the candle fractal (bearish) is similar with late October/ early November.
- Emerging Golden Cross.
Projection:
- If the price fails to close a 1D candle above the 4.2550 Resistance, then EOS will most likely pull back towards the MA50, which in turn if cross may drop further towards the Support. If on the other hand the Resistance breaks, we will see a Golden Cross forming towards 6.1700.
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Levels to watch:
- The Resistance is at 4.2550 while the Support at 2.1200.
- The price is already above both the MA50 and MA200.
- The MA200 is in fact providing Support, keeping the price sideways within the trend line and the Resistance.
- The RSI is on a bearish divergence and the candle fractal (bearish) is similar with late October/ early November.
- Emerging Golden Cross.
Projection:
- If the price fails to close a 1D candle above the 4.2550 Resistance, then EOS will most likely pull back towards the MA50, which in turn if cross may drop further towards the Support. If on the other hand the Resistance breaks, we will see a Golden Cross forming towards 6.1700.
If you like this idea give us a like, follow and share your thoughts in the comments section below. Remember to stay tuned for future technical analysis , news, updates, and more from PrimeXBT!