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EOS Price Analysis: Eos Token Chart Structure Looks Weak, As Falls Below 200-DMA Line  

eos
  • EOS token is looking bearish and also fallen below the vital moving average of 200-day support 
  • The crypto asset is trading below all moving averages of 20, 50, 100, and 200-day, while volume is continuously declining and falls below the average line 
  • The ratio of EOS/BTC is trading at 0.0001364 BTC with an intraday loss of -5.35%, whereas the pair of EOS/ETH is also trading under pressure with an intraday loss of -1.98% at 0.002039 ET
Source:tradingview

EOS token price over the monthly chart is trying to recover after witnessing a sharp selloff. At the same time, facing a solid rejection of the 20-DMA (red) line. Moreover, the digital asset is also dragged below the vital moving average of 200-Day in today’s trading session. 

The closing of day candles below the 200-DMA will increase the strength of bears, and EOS can see more downside in upcoming trading sessions. Selling volume is also declining, falls below the average line, and does not support breakout or breakdown. Support on the lower side is at $4.50 and $3.60; whereas, resistance on the higher side is $6.20 and $7.15. 

Technical paramaters of EOS Token

Source:tradingview

Over the weekly chart, EOS token has formed a bearish engulfing candle with technical parameters in favor of Bears. In contrast, the coin makes a rounding bottom kind of pattern and can also retest the previous lows of $4.50. Presently, EOS is trading at $4.96 with an intraday loss of -7.12% and a volume to market cap ratio standing at 0.3389. The coin is positioned at 26th rank with a total market capitalization of $4,730,685,537. 

Relative Strength Index (BEARISH): EOS token RSI is presently projecting a gradual downtrend over the weekly chart after correcting from the higher levels. At the same time, heading towards the oversold zone trading at 38 levels.  

Moving Average Convergence Divergence (BEARISH): Currently projecting upcoming bearish crossover. The MACD shows the buyer’s signal line (green) can be suppressed by the seller’s line (red) and can create bearish momentum.  

Support levels: $4.50 and $3.60

Resistance levels: $6.20 and $7.15.