- EOS coin is getting strong dynamic resistance from the 20-day EMA
- The EOS/BTC pair was trading at 0.0001079 BTC with a gain of 1.34%
- the 24 trading volume in EOS coin is $680.3 Million
The EOS token price is wobbling in a small range consisting of $4.5 and $3.2, as the key resistance and support, respectively. However, even if the price could not provide many rewarding opportunities inside the range, EOS traders can wait for the price to give a decisive breakout from either of the critical levels to grab a solid directional move in the coin.
As per the EMA’s, the EOS coin is trading below all the critical EMA’s 20, 50, 100, and 200, indicating a bearish trend formation. In addition, the chart shows the 100 and 200-day EMA are on the verge of giving a bearish crossover, luring more sellers in the market. Moreover, the 20 EMA acts as the first line of EMA defence for short-sellers, as it provides excellent dynamic resistance to the price.
The RSI (BEARISH) value is at 44, currently indicating a bearish sentiment in the coin market. However, the RSI also shows a bullish divergence, which gives more weightage to a bullish breakout from the range mentioned above.
EOS Coin Crypto Chart In The 4hr Time Frame
The EOS coin price shows a clear picture of its small consolidation in the 4hr time frame. This small range has another significant $3.65 level in the middle of this range, which acts as little a checkpoint for the price, providing more confirmation and an opportunity to add more qty if the price gives a breakout from it.
The MACD indicator suggests a neutral sentiment in the price as both the MACD and signal lines are continuously moving around the neutral zone with multiple crossovers. In addition, the histogram also shows a constant shift of the green and red bars, indicating an unclear trend.
No Evidence Was Found Of Block.one Intentionally Purchasing The Tokens During The Token Sale.
EOSIO, on July 23, tweeted that @Clifford_Chance LLP supported by #PwCHK and DMG Blockchain Solutions were engaged to review Block.one actions during the token sale conducted between June 26, 2017, and June 1, 2018; however, and when the review was complete, they found no evidence that Block.one either intentionally purchased tokens by any means during the token sale or entered into any arrangements with third parties to do so on their behalf.
Source- https://twitter.com/eosio/status/1418614660115439617
Conclusion: From the technical perspective, the EOS is just in a resting phase before it starts a new rally or continues with its bearish trendline. However, this all depends on which side the price will give its breakout, which could provide an excellent direction move in the EOS coin.
Support: $3.2
Resistance: $4.5