EOS/USD

EOS/USD

Gate Trade EOS Saturday, April 11, 2020 361 0

EOS has turned down from the 50-day SMA ($2.82), which shows that the bears are aggressively defending this resistance level. If the altcoin dips below the recent breakout level of $2.4001, a drop to $2.0632 is likely.

 

Both the moving averages have flattened out and the RSI has dropped below the midpoint, which suggests a few days of range-bound action.

The trend will turn in favor of the bulls if they can drive the EOS/USD pair above the 50-day SMA. In such a case, a rally to $3.1802 and then to $3.86 is possible. The traders can protect their long positions with the stop loss at $2.