Altcoins

EOS $EOS Price Outlook: Neutral

@KittyBitcoin logo
December 07 2018 19:12 UTC
EOS has lost -25.87% or $-0.5402 in twenty-four hours. In this Pearl Harbor Day Edition find $EOS price action, trend, technicals and more. Or jump right to the EOS $EOS Price Outlook.

 

Price Action

The price of $EOS has fallen over twenty-four hours. The last price at press time is $1.5482. In Binance heavy volume trading the daily change is -25.87%, or $-0.5402:
$EOS Price Change
period % $
24 hours -25.87 $-0.5402
7 days -46.44 $-1.3422
1 month -72.75 $-4.1329

Trend

trend is DOWN

The EOS quarterly trend is down. The quarterly trend last saw a significant spike upwards on October 14 2018 with a high of 6.0500. That was a week shy of two months ago and since then the trend has been mostly down. We have also seen temporary corrective surges upwards in the overall descending trend.

[Trend is "down" when the quarterly price movement is predominantly downwards.]

Chart

Tap / click to zoom:

chart-eos-sixhourcandles-2018-12-07

Remarks

$EOS volume today is the heaviest this month and is sending the price lower by double digits. The six hour chart doesn’t leave much to cheer about in a long position as we’ve seen a continual downtrend for months. Today’s drop is in part due to the Bitcoin Price Modifier, which saw a -10.86% drop overnight.

 

Technicals

Moving Average Convergence Divergence (MACD)

The MACD on the four hour chart is strongly bearish.

[MACD is a trend-following momentum indicator]

Exponential Moving Averages (EMA)

period average
7 day $1.78
25 day $2.27
99 day $3.32

All three EMA indicators are pointing downwards. The short term EMA has taken on a much deeper slope southwards.

[EMA is a type of moving average that weights recent price fluctuations more, yielding a better short term signal]

Relative Strength Index (RSI)

The Relative Strength Index on the four hour chart is 13.6. This is an oversold state.

The RSI is in deeply oversold territory. It last entered an oversold region two days ago on December 05 2018, and has deepened since.

[RSI is is a momentum indicator that measures the magnitude of recent price fluctuations to determine an overbought or oversold state]

Bitcoin Price Modifier

The 24 hour Bitcoin change is -10.86%. This may exert a strongly bearish influence on EOS today.

[The bitcoin price modifier reflects the historical correlation between the price of $BTC and altcoins]

EOS $EOS Price Outlook

neutral

  • the EOS $EOS price outlook is neutral
  • if the price finds acceptance at higher levels the immediate resistance prints at 1.64
  • if the price finds acceptance at lower levels the immediate support prints at 1.53

 

Resistance levels: 1.64 1.68 2.22 2.90

Support levels: 1.53 1.49 1.11 00.95

 

Invalidation: This outlook is no longer valid if the asset has performed outside of its resistance or support levels, or outside of its short term analysis period.

 

Disclosure

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

About @KittyBitcoin

KittyBitcoin logo

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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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