EOS/USD Bearish Momentum Prevalent Under $2.2 – Cryptovibes.com – Daily Cryptocurrency and FX News
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EOS Price Analysis – February 23
EOS price action is presently trading in a bear market and may extend past the $2.0 price level.
EOS/USD Market
Key Levels:
Resistance levels: $2.80, $3.00, $3.20
Support levels: $1.70, $1.50, $1.30
EOS/USD pair opens the day around the $2.17 level, reaching the daily high at $2.24 but it’s now moving lower level where it is currently trading at $2.15. The pair has been trading below the 9-day and the 21-day moving averages touching the daily low of $2.14 as it is down by 0.92% at the time of writing.
EOS Price Analysis: EOS Price May Continue the Downfall
Yesterday, EOS bulls attempted to clear past the $2.10 major resistance zone before being overpowered by the selling pressure triggering a bearish trend for the EOS/USD pair. Today, EOS/USD is sliding towards the south to create a fresh monthly low near $2.00. The coin is consolidating losses below the 9-day and 21-day moving averages as the Relative Strength Index (14) stays below 40-level.
However, if EOS/USD fails to clear the rejections near $2.24, there is a possibility of further decline. The next critical support can be found at $1.70, $1.50, and $1.30 levels. But if the bulls manage to push the price above the upper boundary of the channel, the crypto could hit the resistance levels at $2.80, $3.00, and $3.20.
EOS/BTC Market: Price Keeps Sliding below the Moving Averages
Against Bitcoin, EOS keeps following the bearish movement at the time of writing, the bearish movement may continue below the 9-day and 21-day moving averages if the selling pressure persists and the crypto is likely to create a new low in the next few negative movements. As of now, the technical indicator Relative Strength Index (14) is crossing above 40-level, which indicates that traders may begin a bullish trend.
However, EOS/BTC is currently trading at 0057 SAT. Traders can expect critical support at 0048 SAT and below. Moreover, if the bulls hijack the market movement; traders can confirm an upward movement for the market and the closest resistance level lie at 0065 SAT and above.
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