After the price had risen to the height of $1.8391929, EOS/USD retraced a lower level. At the end of the brief price rebound which took the price to its new support level on the 31st of August and the 1st of September, a bullish engulfing pattern candlestick forms to signal the end of the downtrend. This new support level is higher than the previous support level which is $1.2715381. In a broad view, EOS is in an uptrend. And this bullish trend started on the 14th of July after coming out of a price consolidation period which spanned from 14th June to 13th July (almost a month).
EOS Market Price Statistic:
- EOS/USD price now: $1.5163798
- EOS /USD market cap: $1,514,379,261
- EOS /USD circulating supply: 999,517,309.97
- EOS /USD total supply: 1,061,006,819
- EOS /USD coin market ranking: #35
- Resistance: $1.600000, $1.7000000 $1.8000000
- Support: $1.3747481,
- $1.2762918, $1.1850502
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EOS Market Price Analysis: The Indicators Point of View
As September opens, it opens with a new market trend. The buyers took the market yesterday and the faster line of the stochastic RSI crosses the slower line in the oversold zone of the indicator. The 9-day moving average is almost crossing with the 21-day moving average before the market changes direction. And the result of this will be that the 9-day moving average will test the 21-day moving average. Yesterday’s candle is bullish and it engulfed the candle of the day before. That is the beginning of an uptrend. In the market today, price activities are bullish and the price is still being held up at $1.508. Nevertheless, bearish activities are still being felt in the market.
EOS Analysis: EOS/USD 4-Hour Chart Outlook
In continuation of yesterday’s strong bullish market momentum, today’s market is, at first, bullish, and then in the second trading session, the momentum weakens. This resulted in a bearish market in the third session. Here in this time frame, we see the market preparing to reverse to the negative side. However the day is not over yet, the buyers can still take the market.
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