EOS broke lower from a previous trend channel and moved through the psychological $10.00 level. Following a weak bounce over the last two weeks, price has moved lower on recent negative sentiment. The 50 moving average and the uptrend from October 2017 are very close and may act as a magnet for price in the near-term with larger support at $6.00. The price has retraced much of the overall move which is an indicator of weakness. Like most cryptocurrencies, volume has been in decline so we need a new catalyst and a weekly BUY signal before another move higher is possible.
$10.00 is the first resistance level and that would open up $15.00 and a move into the previous trend channel, which is needed before any hope of testing the previous highs. Neutral at present with lower lows possible.
$10.00 is the first resistance level and that would open up $15.00 and a move into the previous trend channel, which is needed before any hope of testing the previous highs. Neutral at present with lower lows possible.