EOS Price Analysis – July 23
EOS price is likely to suffer under the influence of the bears as the path of least resistance remains downward.
Resistance levels: $2.0, $2.2, $2.4
Support levels: $0.6, $0.4, $0.2
The daily chart reveals that the trading volume is decreasing further as EOS/USD pair continues to move under the control of bears. The EOS price may slide below the 9-day and 21-day moving averages, which could hit the supports at $0.6, $0.4, and $0.2.
EOS Price Analysis: Where is EOS Price Going Next?
Looking at the daily chart, the EOS price may face the downside while bullish control may cross above the upper boundary of the channel. However, if buyers can return to the market, the coin could reach the resistance levels of $2.0, $2.2, and $2.4 may come into play. On the contrary, a surge of volatility may come to play as the technical indicator Relative Strength Index (14) nosedives below the 70-level, suggesting a further drop in prices within the market.
EOS/BTC Market: EOS Price Keeps Ranging
Against Bitcoin, EOS is moving sideways over the past few days as the price action continues above the 9-day and 21-day moving averages. Now, EOS/BTC appeared non-volatile as the price aims to cross above the upper boundary of the channel, signaling a possible surge in the market. As it is now, the EOS price is likely to go down to the support level of 45 SAT and below if the bulls failed to hold the current market value.
However, a bullish regroup may continue and break above the channel. If such a scenario occurs, the EOS price may likely go as high as 60 SAT and above. On the long-term outlook, the EOS price remains on the upside as a rebound could be possible if the 55 SAT can act strong. Meanwhile, the Relative Strength Index (14) is moving above the 60-level, suggesting a bullish movement.