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The bulls’ momentum may increase soon in EOS market
EOSUSD Price Analysis – November 18
The breaking down of the $0.78 support level may decrease the EOS to $0.64 and $0.50 levels. The closing of the daily candle above the resistance level of $0.94 may increase the price to $1.10 and $1.37 levels
EOS/USD Market
Key Levels:
Resistance levels: $0.94, $1.10, $1.37
Support levels: $0.78, $0.64, $0.50
EOS/USD Long-term Trend: Bearish
EOS/USD is bearish in the daily chart. The Double Top chart pattern formed at the resistance level of $1.90 triggers the bearish movement in the market. The price decreases to the support level of $0.94 after breaking down the support level of $1.48 and $1. 37. More pressure from the sellers declines the price to the support level of $0.78.
The price is trading below the two EMAs where the 9-period EMA is below the 21-period EMA which indicates that bears are holding to the EOS market. The Relative Strength Index period 14 is pointing up at the 39 levels displaying no specific direction indicating that the price is consolidating. The breaking down of the $0.78 support level may decrease the price to $0.64 and $0.50 levels. The closing of the daily candle above the resistance level of $0.94 may increase the price to $1.10 and $1.37 levels
EOS/USD Price Medium-term Trend: Bearish
The coin is bearish on the medium-term outlook. On October 13, the price declined and tested the previous low at the $0.94 level when the price action formed an “M” shape on the 4-hour chart. The pattern is bearish. It pulled back and retested the $1.10 level. Sellers exerted more pressure and the low of $0.90 is tested.
The 9-day EMA and the 21-day EMA are interlocked to each other and the price is trading around the two EMAs which connotes low bullish momentum in the EOS market.
Daily, buyers are increasing rapidly, investing in the Impact Token presale. Within several weeks, it has realized nearly $12.5 million in the ongoing presale.
Dash 2 Trade (D2T) presale has acquired $6.5 million at the moment. Also, the CZ of Binance declared an industry recovery plan for crypto projects; this is an excellent time to invest in D2T tokens.
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