EOS/USD

EOS/USD

Gate Trade EOS Tuesday, April 14, 2020 409 0

EOS had dipped below the breakout level of $2.4001, which is a bearish sign. If the price sustains below this level, it will suggest that the recent breakout was a bull trap. The next support on the downside is $2.0632.

 

The 50-day SMA continues to slope down and the 20-day EMA has also started to turn down. The RSI turned around from the 60 levels and has slipped into the negative territory. This suggests that the bears have the upper hand.

Our negative view will be invalidated if the EOS/USD pair rebounds off the current levels and rallies above $2.8319. Such a move will indicate strength and can result in an up move to $3.86. The stop loss on the long positions can be retained at $2.