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- The failure of bulls to defend the support line of the descending channel. EOS reached to its lowest limit possible. It did try to climb up to the normal and barely managed it.
- The EOS/BTC pair showing a positive sign with a profit of 0.40% bringing the level to 0.00036383.
In the 7day-weekly chart, we can clearly see that after losing the support price of 2.80 it took a very sharp negative divergence which further leads EOS its lowest level since November 2017.
After recovering from the bottom level EOS tried to climb up, but again it went below the normal level. The resistance level of 2.20 level didn’t allow to make an impressive climb but also made it fall to the normal again
Today crypto market falls along with the global market which led EOS’s current market capital to $1,882,639,582 USD with volume traded of $9,365,162,981 USD and cumulative supply of 920,892,793 EOS.
EOS Technical Analysis:
There is a heavy downfall in the prices of the altcoin as bears took full control of it, leading it to the lowest limit possible. In the end it somehow managed to reach a normal point but it’s not enough.
The technical indicators and oscillators are showing heavy selling volume due to the market condition. As crypto investors are more focused on liquefying there assets. This could serve hard in tomorrow’s market too.
The MACD levels showing heavy selling volume, there was a complete dominance of bears. EOC levels struggled a lot in the bullish zone and call off their day in bearish approach.
The 24hr-RSI went to the oversold region twice. It took a sharp negative divergence towards the oversold region from normal. EOS tried to reach a normal zone but bears didn’t allow it to.
The 24hr-CCI touched its lowest limit possible in the oversold region with a heavy selling volume. It struggled a lot to reach the normal level but somehow it manages to do it.
Resistance level: $2.05
Support level: $2.00
Mr. Pratik chadhokar is an Indian Forex, Cryptocurrencies and Financial Market Advisor and analyst with a background in IT and Financial market Strategist. He specialises in market strategies and technical analysis and has spent over a year as a financial markets contributor and observer. He possesses strong technical analytical skills and is well known for his entertaining and informative analysis of the Financial markets.
