EOS broke down in declines after shuttering trendline support. EOS sustains the price above $3.0 support but the immediate upside is limited at $3.2. EOS is taking a breather after a couple of days of constant battering. The downtrend is as a result of the rejection that took place at $3.69 (November high). The 50 SMA and the 100 SMA on the 4-hour chart failed to hold leading to declines below the trendline support. The losses extended to levels close to $3.0 which gave way for a minor recovery movement. EOS/USD is currently flirting with the 50% Fibonacci retracement level taken between the last swing high of $3.69 to a swing low of $2.54. The immediate upside is limited at $3.12, although more resistance is to be expected at the 50 SMA and the 100 SMA areas. The prevailing technical picture is bearish considering the RSI is stuck in the oversold region (below 30). The MACD is also holding ground in the negative territory. However, an incoming bullish cross could send EOS towards the resistance at $3.20. EOS/USD 4-hour chart FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street Crypto News share Read Next Further downside in AUD/USD lost traction – UOB FX Street 3 years EOS broke down in declines after shuttering trendline support. EOS sustains the price above $3.0 support but the immediate upside is limited at $3.2. EOS is taking a breather after a couple of days of constant battering. The downtrend is as a result of the rejection that took place at $3.69 (November high). The 50 SMA and the 100 SMA on the 4-hour chart failed to hold leading to declines below the trendline support. The losses extended to levels close to $3.0 which gave way for a minor recovery movement. EOS/USD is currently flirting with the 50% Fibonacci retracement level… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
