AltcoinsEOS

EOS $EOS Price Outlook

@KittyBitcoin logo
December 03 2018 18:28 UTC
EOS has lost -11.90% or $-0.35 in twenty-four hours. In this Monday Edition find $EOS price action, trend, technicals and more. Or jump right to the 24 Hour EOS $EOS Price Outlook.

 

Price Action

The price of $EOS has fallen over twenty-four hours. The last price at press time is $2.59. In Binance moderate volume trading the daily change is -11.90%, or $-0.35:
$EOS Price Change
period % $
24 hours -11.90 $-0.35
7 days -20.31 $-0.66
1 month -51.95 $-2.8

Promoted

Trend

trend is DOWN

The EOS weekly trend is down. A month ago on November 06 $EOS capped out at $5.84. Now a few short weeks later the price is less than half that. We’ve seen significant price erosion every week since mid November. Each week prints fresh lows and lower highs.

 

Trend is "down" when the weekly price movement is predominantly downwards.

Chart

http://localhost/KittyBitcoin.com/technical-analysis/charts/chart-eos-usdt-4hourcandles-2018-12-03.png

chart-eos-usdt-4hourcandles-2018-12-03

 

Remarks

We’re continuing to see a strong correlation between the descending price of bitcoin and the price of $EOS.

Descent from Opening Price
Today’s low of $2.52 is a 2018 yearly low for $EOS. There is no Binance historical data for this price range. CoinMarketCap prints an $EOS new listing high of about $4.56 on July 02 2017. This soon fell off to $2.89 on July 05 2017. Seeking a comparable price we next see $EOS descend to $1.61, plateau for some weeks and then bottom out at forty-eight cents on October 03 2017.

The Ascent to $7.51
CoinMarketCap pegs the $EOS ascent price on a dip at $1.77 on November 24 2017. On the next ascent dip on November 30 2017 the $EOS price prints $2.61.

If we can rely on these historical precedents – which more than a year later is a very big if – then we can guesstimate the next low at $2.61, which is about where the price is now. If history is any indicator, the price will form key support at or near this price.

Should bitcoin and market dynamics find price acceptance at lower levels, then historically we have only the lows at $1.61 and then $0.48 cents to rely on – as far as recorded prices go.

Technicals

Moving Average Convergence Divergence (MACD)

The MACD on the four hour chart is bearish.

Exponential Moving Averages (EMA)

period average
7 day $2.7591
25 day $2.9053
99 day $3.4873

Twelve hours ago (on the four hour chart) the short term EMA crossed the medium term EMA and was heading up. The three sessions since then saw the EMA turn slightly back down. This is a bearish indicator.

Relative Strength Index (RSI)

The Relative Strength Index on the one hour chart is 18.0. This is an oversold state.

Bitcoin Price Modifier

The 24 hour Bitcoin change is -6.59%. This may exert a bearish influence on EOS today.

24 Hour EOS $EOS Price Outlook

bearish

  • the twenty-four hour EOS $EOS price outlook is bearish
  • if the price finds acceptance at higher levels then key resistance is historically found at $2.89
  • if the price finds acceptance at lower levels then key support is historically found at $2.61
Invalidation: This outlook is no longer valid if the asset has performed outside of its key resistance or support level, or outside of its analysis period.

 

Disclosure

The author does not hold EOS $EOS at the time of writing.

About @KittyBitcoin

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@KittyBitcoin has provided timely and informative blockchain intelligence since 2014. Request your custom content today, browse @KittyBitcoin on Twitter® or visit the KittyBitcoin.com website.

KittyBitcoin supplies blockchain intelligence on http://kittybitcoin.com, on industry leading websites, and through white label channels since 2014. Follow @KittyBitcoin on Twitter®.
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