- The EOS price is struggling for an uptrend over the daily graph. The coin needs to gather its bulls to make a trend reversal.
- The crypto asset is moving below the 20, 50, 100 and 200 daily moving average.
- The EOS/BTC pair is at 0.00004745 BTC with an insignificant loss of 0.52%.
After the return of bullish dominance over the whole crypto market the EOS price is still battling for an uptrend movement over the daily chart. The price is moving just above the exponential moving average along with the volume significantly down below its average, still the trading volume has gained 7% over the intraday trading session. EOS coin still needs to attract buyers to make a successful trend reversal or else the coin will be left behind in the race of other cryptocurrencies. The price made a lower low of $0.99 in the 24 hrs session. The EOS price is still moving near to its all time low and is the reason why it is a matter of fear to the investors.
The coin price is trading at $1.01 which is currently at a loss of 2.67% in its market capitalization in the last 24 hrs. The coin has a trading volume of 177 million with a gain of 5.82% in the 24 hrs trading session and a market cap of 1 billion. The volume market cap ratio for EOS is 0.1776.
Short-term Analysis
While analyzing the graph for short term (4 hrs) we can closely observe the waves of uptrend over the graph, these waves are signifying the battle along with the overall dominance of bulls. The coin needs to attract more buyers to pump the price. The price is moving low below the exponential moving average.
The technical indicator MACD indicates a bearish rally ahead as the MACD signal line is moving above the MACD signal line with the histograms dropping red.
The relative strength index is also in favor of bears this time as the selling pressure is increasing as indicated by the indicator. The RSI value is below 55.
Conclusion
After the return of bullish dominance over the whole crypto market the EOS price is still battling for an uptrend movement over the daily chart but an uptrend can be observed over the hourly graph. The coin needs to attract more buyers to pump the price. The technical indicators indicate a bearish dominance on the hourly graph.
Technical levels
Resistance levels: $1.12 and $1.22
Support levels: $0.91 and $0.81
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational ideas only, and they do not establish the financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
