EOS: Price Analysis, August 13



EOS has been trying to hold the $4.8 line for the past two days, but the pullback lacks strength. This shows absence of buying interest at this level. This increases the probability of a fall to $3.8723.


Both moving averages are falling and the RSI has been in the oversold zone for the past few days. This shows that the sellers have an upper hand. Any pullback attempt will meet with a stiff resistance at the 20-day EMA.

We anticipate a strong support in the zone of $3.8723 — $4.3396. We shall wait for the buyers to return before suggesting any trades on the EOS/USD pair.

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