EOS Price Analysis: EOS Bulls Fail To Break 100-days EMA And Roll Over

EOS

EOS Price Analysis: EOS Bulls Fail To Break 100-days EMA And Roll Over

  • EOS saw a sharp 3.5% price decline over the past 24 hours of trading as the cryptocurrency drops to the $2.80 level.
  • The buyers had made an attempt to break above the resistance at $3.00 but were turned away as they dropped beneath the 100-days EMA.

EOS saw a steep price drop that totaled to 3.5% over the past 24 hours of trading. The cryptocurrency made an attempt to break above $3.00, which is resistance provided by a bearish .382 Fibonacci Retracement level but failed to do so which caused them to roll over and fall beneath the 100-days EMA.

The coin is now trading at $2.80 but is looking bearish after being rejected at the 100-days EMA. It is ranked in the 9th position as it holds a $2.59 billion market cap value.

EOS Price Analysis

EOS/USD – Daily CHART – SHORT TERM

 

EOS chart

EOS/USD chart by TradingView

Market Overview

Analyzing the daily chart above, we can see that EOS made a push earlier in the week as it moved above the $2.80 level to climb above $3.00 and reach as high as $3.11. The resistance here is provided by a 1.272 Fib Extension level. However, the cryptocurrency was unable to sustain these heights and quickly rolled over to close the day at $3.00. 

It then went on to drop beneath the $3.00 level which is resistance provide by a bearish .382 Fib Retracement – measured from the Feb high to the March low. 

In today’s trading session, the cryptocurrency made another attempt to climb above $3.00 but was turned away again as it dropped to the $2.80 level.

Short term prediction: BULLISH

EOS is still bullish in the short term but it must break the resistance at $3.00 to continue higher. It would need to drop beneath $2.70 to turn neutral and beneath $2.40 to turn bearish.

IF the sellers do push lower, the first level of support lies at $2.71 (.236 Fib Retracement). Beneath this, support lies at $2.60, $2.37 (.382 Fib Retracement), and $2.27 (.5 Fib Retracement).

On the other side, the first level of resistance lies at $3.00. Above this, resistance is located at $3.11, $3.20, $3.30 (1.414 Fib Extension), and $3.46 (bearish .5 Fib Retracement).

Key Levels

Support: $2.71, $2.60, $2.47, $2.27.

Resistance: $3.00, $3.11, $3.20, $3.30.

Summary
EOS Price Analysis: EOS Bulls Fail To Break 100-days EMA And Roll Over
Article Name
EOS Price Analysis: EOS Bulls Fail To Break 100-days EMA And Roll Over
Description
EOS saw a sharp 3.5% price decline over the past 24 hours of trading as the cryptocurrency drops to the $2.80 level. The buyers had made an attempt to break above the resistance at $3.00 but were turned away as they dropped beneath the 100-days EMA.
Author
Publisher Name
Coin Gape
Publisher Logo
Coingape is committed to following the highest standards of journalism, and therefore, it abides by a strict editorial policy. While CoinGape takes all the measures to ensure that the facts presented in its news articles are accurate.
Disclaimer The views, opinions, positions or strategies expressed by the authors and those providing comments are theirs alone, and do not necessarily reflect the views, opinions, positions or strategies of CoinGape. Do your market research before investing in cryptocurrencies. The author or publication does not hold any responsibility for your personal financial loss.
Author: Yaz Sheikh
Yaz is a cryptocurrency technical analyst and has been actively trading financial markets for over 7years, with 4 years of crypto experience. He is an Economics graduate who has taken a keen interest on the future potentials of blockchain in the financial industry. Aside from cryptocurrency and trading Yaz enjoys spending his time watching his favourite football team (Liverpool F.C.) compete as well as keeping up-to-date with the UFC. Follow him at @TcmYaz.
Post your comment...
Yaz Sheikh 182 Articles
Yaz is a cryptocurrency technical analyst and has been actively trading financial markets for over 7years, with 4 years of crypto experience. He is an Economics graduate who has taken a keen interest on the future potentials of blockchain in the financial industry. Aside from cryptocurrency and trading Yaz enjoys spending his time watching his favourite football team (Liverpool F.C.) compete as well as keeping up-to-date with the UFC. Follow him at @TcmYaz.
Follow Yaz @