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EOS Price Analysis: EOS/USD finds support on the SMA 20 curve as bears retain control

FX Street
Updated:
  • The Elliott Oscillator has had two green sessions following nine red sessions.
  • After failing at the $4.40 resistance line, the bulls are struggling to keep the price above $4.

EOS/USD daily chart

EOS/USD daily chart

EOS/USD has had a second bearish day in a row as the price dropped from $4.13 to $4.07 in the early hours of Tuesday. Presently, the price has found support at the SMA 20 curve. Earlier this Monday, EOS/USD failed at the $4.40 resistance line and dropped to $4.13. The MACD shows decreasing bullish momentum, while the RSI indicator is trending around the neutral territory The Elliott Oscillator has had two green sessions following nine red sessions, showing that overall market sentiment could be bullish.
 

FX Street

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