EOS Targets Previous Low at $0.88

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Sellers’ momentum is increasing  in EOS market

EOSUSD Price Analysis – October 22

An increase in the sellers’ momentum may reduce the EOS price below the support level of $0.88 in which psychological support levels of $0.77 and $0.62 may be tested. Inability to cross below the $0.88 level may increase EOS price towards $1.40, $1.65, and $1.90 resistance levels.

EOS/USD Market

Key Levels:

Resistance levels: $1.40, $1.65, $1.90

Support levels: $0.88, $0.77, $0.62

EOS/USD Long-term Trend: Bearish

EOS price is bearish in the daily chart. The crypto double Topped at the resistance level of $1.90. This is the chart pattern that triggered the bearish momentum. The price steadily decreases towards the support level of $0.88. The former support level of $1.65 and $1.40 have turned to resistance level. The previous low of $0.88 may be tested.

The price is trading below the two EMAs where the 9 periods EMA is below 21 periods EMA which indicates that the bears are holding to the EOS market. The Relative strength Index period 14 is pointing down at 42 level displaying a bearish direction. An increase in the sellers’ momentum may reduce the price below the support level of $0.88 in which psychological support levels of $0.77 and $0.62 may be tested. Inability to cross below the $0.88 level may increase the price towards $1.40, $1.65, and $1.90 resistance levels.

EOS/USD Price Medium-term Trend: Bearish

EOSUSD is bearish on the medium-term outlook. The sellers’ momentum increases and the price follow the direction. The coin is move downward with the formation of more bearish candles, which indicates that bears were in control of the EOS market. Looking at the dynamic resistance levels, the price is carrying out retracement towards the two EMAs.

The 9-day EMA and the 21-day EMA are interlocked to each other and the price is hovering over the two EMAs which connote a ranging EOS market.

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