Like the rest of the coins, EOS managed to recover some of the losses in the last 10 days, with it's price being stimulated by the total market capitalization which seem to go through slight recovery process, at least for the moment.
The Bearish trend of EOS has started on the 13th of November and in more than one month, the price has dropped from 5.46$ to 1.56$, meaning a decrease of 72.42 %.
But on the 17th of December, after 2 days in which the trading volumes have been increased, the price has crossed the 20 days Moving Average and the bullish trend has started. The latter was also confirmed one day later, once the first candlestick fully created above the 20 MA was a green one.
The contradiction between the technical indicators is also similar to other coins, as it follows :
* The RSI has gone above the "neutral" area but it hasn't reached the "overbought" one yet;
* The Stochastic has an "overbought" position but during the last few days it's crossovers didn't announce big movements;
* The MACD is still above the Signal, meaning that the increase is not over yet;
* The upped standard deviation of the Bollinger Bands has been reached, meaning that the price is "overbought".
In the past, whenever we could see similar contradictions, these ones have announced a slow down of the trend.
In these circumstances, we can say that the price of EOS has some chances to break the resistance level of 3.09 and also to get close to the level of 3.48$ supported as well by the similar trading volumes.
But overall, the long term trend remains bearish and it seems that the price is only searching for another "peak" before it will start to go down again.
The Bearish trend of EOS has started on the 13th of November and in more than one month, the price has dropped from 5.46$ to 1.56$, meaning a decrease of 72.42 %.
But on the 17th of December, after 2 days in which the trading volumes have been increased, the price has crossed the 20 days Moving Average and the bullish trend has started. The latter was also confirmed one day later, once the first candlestick fully created above the 20 MA was a green one.
The contradiction between the technical indicators is also similar to other coins, as it follows :
* The RSI has gone above the "neutral" area but it hasn't reached the "overbought" one yet;
* The Stochastic has an "overbought" position but during the last few days it's crossovers didn't announce big movements;
* The MACD is still above the Signal, meaning that the increase is not over yet;
* The upped standard deviation of the Bollinger Bands has been reached, meaning that the price is "overbought".
In the past, whenever we could see similar contradictions, these ones have announced a slow down of the trend.
In these circumstances, we can say that the price of EOS has some chances to break the resistance level of 3.09 and also to get close to the level of 3.48$ supported as well by the similar trading volumes.
But overall, the long term trend remains bearish and it seems that the price is only searching for another "peak" before it will start to go down again.
Trade closed: target reached:
the price has reached the level of 3.09 and the trade has been closed
