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EOS Price Prediction: This Weekend Seems Bullish, Will There be Further Recovery?

Analytics

www.thecoinrepublic.com 03 October 2022 06:30, UTC
  
Reading time: ~2 m

  • The EOS coin is looking sideways near an upward trendline.
  • EOS crypto is trading below the important exponential moving average on the daily price scale.
  • The price of EOS pairing with Bitcoin is up 1.21% at 0.00006266 satoshis.

EOS price is bearish for potential investment. At that point, the bears have strong control over the EOS crypto, which is unable to reverse its previous trend despite several attempts. The price trend has been sideways since last week, and the weekly price closes sideways.

EOS price is showing a slight downside in the intraday trading session against the USDT pair, while the price is trading at $1.21 at the time of writing. Nevertheless, the weekly price candle is in the green zone up to 3.8% so far and buyers are witnessing a bullish weekend. Thus, the price of EOS pairing with Bitcoin is up by 1.21% at 0.00006266 satoshis.

Source: EOS/USDT by tradingview 

Price action shows higher-lows and lower-high formation in higher time frames. Thus price is remaining above the bullish trendline and below the resistance trendline. If in ant cast, bulls fail to maintain EOS crypto above immediate support then the EOS price prediction will indicate shart fall until price revisit annual low. 

In terms of the daily price scale, EOS crypto is trading below the significant exponential moving averages like 0,50,100 and 200. At this point, the 200 EMA (white) acts as a key selling point. 

ADX is Decreasing 

Source: EOS/USDT by tradingview 

Trading volume in EOS crypto is low. Therefore, the RSI indicator is moving below the halfway mark (50 points). At the same time, the ADX indicator moves below the 20 level, which shows excessive sideways momentum.

Conclusion

EOS crypto is bearish as the price is trading at a cheaper price while below the important exponential moving average. ADX is going down, showing weakness in the crypto, and if the bullish trend breaks further then buyers could see a drop in the price.

Resistance level- $1.5 and $2.0

Support level- $1.0 and $0.80

Disclaimer 

The views and opinions stated by the author, or any people named in this article, are for informational ideas only, and they do not establish the financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.


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